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RBI asks banks to remain open full day on March 30, 31

Mumbai: The Reserve Bank of India (RBI) has asked banks to keep their branches, which conduct government business, open for full day on March 30 and till 8 pm on March 31 to facilitate the

India TV Business Desk [ Published on: March 18, 2016 14:35 IST ]
Ahead of fiscal-end, RBI asks banks to remain open full day
Ahead of fiscal-end, RBI asks banks to remain open full day on March 30, 31

Mumbai: The Reserve Bank of India (RBI) has asked banks to keep their branches, which conduct government business, open for full day on March 30 and till 8 pm on March 31 to facilitate the transactions before annual closing of government accounts. 

RBI said the government has desired that all government transactions with banks must be accounted for within the same financial year. 

It has also requested that certain special arrangements be made for the purpose, as in previous years. 

"Accordingly, it has been decided that all agency banks shall keep the counters of their designated branches conducting government business open for full day on March 30 and till 8 pm on March 31," RBI said in a notification. 

All electronic transactions would, however, continue till midnight on March 31, 2016, it said.

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