Business
Government requests all agency banks to remain open for public on March 31 – Times of India
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NEW DELHI: The Government of India has requested all agency banks to keep their branches dealing with government receipts and payments open for transactions on March 31that is Sunday, in a move aimed at facilitating seamless government transactions.
According to Reserve bank of India, this decision comes with the objective of ensuring that all government transactions related to receipts and payments for the fiscal year 2023-24 are accounted for within the stipulated timeframe.
This measure aims to streamline the processing of government transactions and maintain the efficiency of financial operations as the fiscal year draws to a close.
Furthermore, banks are instructed to undertake appropriate measures to publicize the availability of banking services on this particular day, ensuring that the public is duly informed about the opportunity to conduct banking transactions on Sunday.
The decision underscores the government’s commitment to facilitating smooth financial transactions and adhering to regulatory timelines.
By keeping agency banks open on Sunday, the government aims to facilitate the timely processing of government receipts and payments, contributing to the efficient management of public finances.
According to Reserve bank of India, this decision comes with the objective of ensuring that all government transactions related to receipts and payments for the fiscal year 2023-24 are accounted for within the stipulated timeframe.
This measure aims to streamline the processing of government transactions and maintain the efficiency of financial operations as the fiscal year draws to a close.
Furthermore, banks are instructed to undertake appropriate measures to publicize the availability of banking services on this particular day, ensuring that the public is duly informed about the opportunity to conduct banking transactions on Sunday.
The decision underscores the government’s commitment to facilitating smooth financial transactions and adhering to regulatory timelines.
By keeping agency banks open on Sunday, the government aims to facilitate the timely processing of government receipts and payments, contributing to the efficient management of public finances.
