Taking a big decision, the Reserve Bank of India (RBI) has decided to keep banks open on Sunday, March 31. RBI has given information about this decision through a tweet on social media platform X. The central bank said that despite March 31, 2024 being a Sunday, all banks remain open. This decision has been taken as it is the last day of the current financial year 2023-24.
All Agency Banks to remain open for public on March 31, 2024 (Sunday)https://t.co/7eI5CZtlh0
— ReserveBankOfIndia (@RBI) March 20, 2024
Transactions Must Be Recorded In The Same Financial Year
RBI has said that the annual closing of the financial year is on March 31. Therefore, all banks will remain open. In the instructions sent to all the banks, it has been said that the transactions happening till the end of the financial year should be registered in the same year; hence, all the banks have been asked to work. All banks will open and close as per their regular timings on Sunday, March 31. All banks will remain open on Saturday also.
Apart from this, NEFT and RTGS transactions will also continue till midnight. Apart from this, special provisions will also be made to clear government cheques. However, the stock market will remain closed.
All Income Tax Offices Will Remain Open
The Income Tax Department had decided to keep all its offices open. The department had also cancelled the holidays of Saturday and Sunday, including Good Friday. Due to Good Friday, the Income Tax Department cancelled the long weekend that fell this month. Good Friday is on March 29. 30th March is Saturday, and 31st March is again Sunday. That’s why there was a long holiday of 3 days.
Due to this, many departments’ work would get stuck at the end of the financial year. The financial year 2023-24 is going to end on March 31. For this reason, the Income Tax Department has said that IT offices across the country will remain open on 29, 30 and 31 March.
