RBI News: A big order has been issued by the Reserve Bank, after which the customers have got a big relief. The Reserve Bank of India (RBI) has directed all banks to keep their branches open for working hours till the above mentioned date.
Reserve Bank of India Big Update: A big order has been issued by the Reserve Bank, after which the customers have got a big relief. With the annual closing of accounts scheduled for March 31 for the financial year 2022-23, the Reserve Bank of India (RBI) has directed all banks to keep their branches open for working hours till the above date. In a letter written to all agency banks on Tuesday, the RBI said that all government transactions done by agency banks for 2022-23 should be accounted for within the same financial year.
The letter has been issued
The central bank’s letter states that all agency banks should keep their designated branches open for counter transactions related to government transactions during normal working hours on March 31, 2023. It further said that transactions through National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) systems will continue till 12 midnight of March 31, 2023.
How long will the reporting window open?
Along with this, special clearing will be conducted for collection of government checks on March 31, for which the Department of Payment and Settlement Systems (DPSS) of RBI will issue necessary instructions. The RBI has said in its directive that the reporting window of March 31 will be kept open till 12 noon on April 1 in connection with the reporting of Central and State Government transactions to RBI including uploading of GST or TIN 2.0 e-receipts luggage file.
