RBI’s offices dealing with govt biz to be open on March 30 and 31

FILE PHOTO: A Reserve Bank of India (RBI) logo is seen inside its headquarters in Mumbai, India, April 6, 2023. REUTERS/Francis Mascarenhas/File Photo | Photo Credit: FRANCIS MASCARENHAS

Mumbai

The Reserve Bank of India (RBI) on Friday said its offices dealing with government business and all designated branches of agency banks conducting government banking business will keep their counters open as per normal working hours on March 30, 2024 (Saturday) and March 31, 2024 (Sunday).

Electronic transactions can be done till the stipulated time on both these days.

Special measures

This move is part of special measures for the annual closing of government accounts – transactions of central / State governments – for the current financial year (2023-24) and to provide greater convenience to tax payers.

RBI said transactions through National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) System will continue up to 2400 hours as hitherto on March 31, 2024.

In order to facilitate government receipts and payments, necessary arrangements have also been made to conduct special clearing operations across the country. Special clearing will be conducted for government cheques both on March 30 and 31, 2024.

The central bank advised agency banks that all cheques related to government accounts may be presented in such clearing.

For reporting of Central and State government transactions to RBI, including uploading of GST (goods & service tax)/ TIN2.0 (taxpayer identification number)/ ICEGATE (Indian Customs EDI Gateway) / e-receipts luggage files, the reporting window of March 31, 2024 will be kept open till 1200 hours noon on April 1, 2024.

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