RBI has directed that all government transactions done by agency banks for the Financial Year 2022-23 must be accounted for within the same financial year.
Also Read– PAN-Aadhaar Link Last Date Extension: Will it be extended again? Here’s what to expect
Bank Holidays Latest Update Today: If you have any banking activity this week, here’s a big update for you. As per the RBI guidelines, the bank branches to remain open till March 31 for annual closing. In this regard, the RBI has written a letter to all the agency banks that they should keep their designated branches open for over-the-counter transactions related to government transactions up to the normal working hours on March 31, 2023.
Also Read- Not Sure How To Pay Off Credit Card Bills? Here Are Some Tips For You
The RBI also directed that all government transactions done by agency banks for the Financial Year 2022-23 must be accounted for within the same financial year.
“Transactions through National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) System will continue up to 2400 hours (12 midnight) as hitherto on March 31, 2023,” the RBI said in the letter.
Read More: Here’s how I renewed my bank locker agreement
The RBI also stated in the letter, “Regarding reporting of Central and state government transactions to RBI, including uploading of GST/ TIN2.0/ e-receipts luggage files, the reporting window of March 31, 2023, will be kept open till 1200 hours noon on April 1, 2023.”
Read More: SBI Credit Card Charges: New Changes to Know About in March 2023
The RBI said the special clearing will be conducted for the collection of government cheques on March 31, for which the Department of Payment and Settlement Systems (DPSS) of the RBI will issue necessary instructions.
The central bank said regarding reporting of Central and state government transactions to RBI, including uploading of GST or TIN2.0 e-receipts luggage files, the reporting window of March 31 will be kept open till 12 noon on April 1.
