Key Points
With Current financial year ending on 31 March (FY2024), some of the banks will remain open on Saturday (30 March) and Sunday (31 March) as per the Reserve Bank of India (RBI) directive..
According to a latest notification by the RBI, the Centre requested the agency banks to open all its branches dealing with government receipts and payments..
"The Government of India has made a request to keep all branches of the banks dealing with Government receipts and payments open for transactions on March 31, 2024 (Sunday) so as to account for all the Government transactions relating to receipts and payments in the FY 2023-24 itself..
Accordingly, Agency Banks are advised to keep all their branches dealing with government business open on March 31, 2024 (Sunday)," the RBI notification reads..
"Section 45 of the Reserve Bank of India Act, 1934, provides for the appointment of scheduled commercial banks as agents at all places or any place in India, for purposes that it may specify, having regard to the public interest, convenience of banking, banking development and such other factors which in its opinion are relevant in this regard"..
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