Friday, March 18th, 2016

Banks will be fully open on March 30th and 31st

Narada Desk | March 18, 2016 1:55 pm Print

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Reserve Bank has asked banks to keep their branches, which conduct government business, open for full day on March 30 and till 8 pm on March 31 to facilitate the transactions before annual closing of government accounts.

RBI said the government has desired that all government transactions with banks must be accounted for within the same financial year.

In a notification issued in Mumbai, RBI said that the government has desired that all government transactions with banks must be accounted for within the same financial year. RBI said all electronic transactions would, however, continue till midnight on March 31st.

“With a view to providing greater convenience to the tax payers, it has been decided that all designated branches of agency banks and RBI offices conducting government business will keep their counters open on 29, 30 and 31 March 2013 to accept government taxes,” RBI said in a statement.

The central bank urged taxpayers to remit taxes well before the last date to avoid a last-minute rush. Facility for payment of taxes online and through select ATMs is also available, RBI said.

Offices of Central Board of Direct Taxes and the Central Board of Excise and Customs (CBEC), too, will remain open on 30 and 31 March for tax collection. CBEC offices will also remain open on 29 March.

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