Banks conducting Govt. business to remain open on March 29, 30, 31 to receive taxes

The Reserve Bank of India (RBI) has told all agency banks to keep the counters of their designated branches conducting Government business open for the full day with extended hours on March 29, 30 and 31 to avoid inconvenience to tax payers who wish to deposit their taxes on those days.

This has been done at the request of the Central Government and some state governments in view of the fact that March 29 and 31 are notified gazetted holidays and March 30 falls on a Saturday, when banks usually work for limited hours.
The RBI has also advised the banks to facilitate receipt of Government taxes from members of the public even at late hours.
RBI has also issued instructions for conduct of special clearing on these three days (including same-day return clearing on 31.03.2013), whereby the agency banks conducting Government business may present instruments in the special clearing on other participating banks. 
Other member banks of the Clearing House (including the presenting banks) are required to keep their inward clearing processing infrastructure open during the Special Clearing hours.
Further, member banks have also been instructed to be in a state of readiness to participate in the Central Payment Systems (RTGS and NEFT) on 29th, 30th and 31st March, 2013, an official press release added.


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