The 31st of this month is Sunday. Usually, banks remain closed on this day, but this time, it will not happen. All the designated branches of offices and agency banks related to government work by the Reserve Bank of India will remain open on this day. RBI has made this decision for taxpayers’ convenience. In such a situation, do you know which banks and government offices will be open on this day?
Let us tell you that the current financial year will end at the end of March, and the new financial year will start on April 1. For this reason, this decision has been taken for the convenience of taxpayers. This will also ease the annual financial year account closing of government accounts.
NEFT and real-time payment can be done through RTGS till midnight of March 31, 2024. According to the Reserve Bank of India, a special clearing operation will run to settle government checks on March 31, 2024.
Agency Banks That Will Remain Open
- Bank of Baroda
- State Bank of India (SBI)
- HDFC Bank
- ICICI Bank
- Punjab National Bank
Note: Many banks have been added to the list of agency banks, but you are advised to confirm the operating status of your bank branch.
Insurance Operations
Insurers have been directed by the Insurance Regulatory and Development Authority of India (IRDAI) to keep their offices open during normal working hours on March 31.
Insurance Providers
- Life Insurance Corporation of India (LIC)
- Private Insurance Companies
Tax Department Services
The Income Tax Department has announced that all income tax offices across the country will remain open on March 29, 30 and 31. This allows taxpayers to complete pending department-related work and file returns at the last minute before the deadline.
Additional Services
Exchange and Deposit of Rs 2,000 Notes: The Reserve Bank of India has advised that exchange and deposit of Rs 2,000 notes will not be available on April 1 due to the annual closing of accounts. This service will start again on April 2.
How To Use These Services?
Banking Transactions: To do transactions like NEFT, RTGS, check clearing, and government-related payments, one has to visit the nearest branch of the designated agency bank.
Insurance Operations: Contact your insurance provider’s office or visit their branch during regular working hours for policy-related queries, premium payments and other services.
Tax Department Service: Use the extended working hours at the Income Tax Office to file returns, settle pending matters and seek help from tax officials when needed.
Exchange and Deposit of Rs 2,000 Notes: Considering the temporary suspension of services on April 1, plan to exchange and deposit your Rs 2,000 notes.
