The Reserve Bank of India (RBI) on Wednesday requested all agency banks dealing with government transactions to ensure their branches remain operational on March 31, 2024. This date marks the last day of the current financial year (2023-2024), which happens to fall on a Sunday. In a statement, “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 FY2023-24 itself,” the RBI said.
In line with this directive, agency banks are advised to ensure that all their branches engaged in government transactions remain open on March 31, 2024, despite it being a Sunday, as stated by the RBI. Furthermore, the RBI emphasized that these banks should promote awareness regarding the availability of banking services on this particular day. Notable public sector banks (PSBs) enlisted as agency banks by the RBI include Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Indian Bank, and Indian Overseas Bank, among others. Additionally, among the private banks identified as agency banks by the RBI are Axis Bank Ltd, City Union Bank Ltd, DCB Bank Ltd, Federal Bank Ltd, HDFC Bank Ltd, and ICICI Bank Ltd, among others.
