In a move to facilitate the maximum collection of revenue possible before the close of the fiscal year, the Reserve Bank of India (RBI), on the request of central and some state governments, has instructed all agency banks to keep the counters of their designated branches conducting government business open for extended hours till 8.00 pm on Saturday, March 29 and Monday, March 31, 2014 at locations where March 31, 2014 has not been declared as a public holiday.

In a notification, the RBI further said that on Sunday, March 30, 2014 and on Monday, March 31, 2014 (at places where holiday has been declared), agency banks may keep select branches open as a regular working day for transacting government business at key locations identified by them, based on volume of transactions.

All electronic transactions would however continue till midnight on March 31, 2014.

(This article was published on March 26, 2014)
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