The Reserve Bank of India (RBI) Tuesday asked banks to remain open on the last day of the financial year that happens to fall on Sunday this year. In particular bank branch with government business dealings have been advised to remain open.
In a circular RBI said, "The Government of India has advised that all Pay and Account Offices will remain open on March 31, 2019 (Sunday) to facilitate government receipt and payment transactions. Accordingly, all Agency Banks are advised to keep all their branches dealing with government business open on March 31, 2019 (Sunday)".
Also, in a separate release the RBI said that all government transactions executed in the financial year by agency banks should be accounted for in the same financial year and for this like previous years special arrangements be made.
"Accordingly, all agency banks should keep the counters of their designated branches conducting government banking open for government transactions up to 8 pm on March 30, 2019 and upto 6 pm on March 31, 2019," it said.
Also, in respect of electronic transactions NEFT and RTGS, the window will remain open for the extended time on March 30 and March 31. For the same, the RBI will come up with necessary instructions.