Banks to be open until 8 PM on March 31 for government banking

NewsBharati    30-Mar-2018
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New Delhi, March 30: The Central Banking Institution has announced that some of the banks would work until 8 PM on Saturday. The RBI stated that the counters of their designated branches conducting government banking be open for transactions up to 8.00 PM on March 31.

The Reserve Bank of India (RBI) said it is mandatory for all banks to participate in the special clearing operations and they should keep their inward clearing processing infrastructure open during the special clearing hours and maintain sufficient balance in their clearing settlement account to meet settlement obligations arising out of the process.

In order to facilitate Government receipts and payments, necessary arrangements have been made to conduct special clearing operations across the country. Centralised payment systems, such as the RTGS and NEFT, will also be operational with the extended business hours.

The RBI adds that Monday has been declared as a holiday to enable banks to close their yearly accounts, but RBI offices will work on that date. However, centralised payment systems, such as RTGS and NEFT, will not be operational.