RBI orders: Only a few days are left for the Annual Closing and with this the financial year 2022-23 will also end. In such a situation, the Reserve Bank of India (RBI) has instructed all banks to keep their branches open till 31 March.
In a letter written to all banks on Tuesday, RBI has written that all government transactions done by banks for 2022-2023 should be accounted for in the same financial year.
“All agency banks should keep their designated branches open for over-the-counter transactions relating to government transactions during normal working hours on March 31, 2023,” the central bank’s letter said.
The letter further states that transactions through the National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) systems will continue till 12 midnight of March 31, 2023.
Also, 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.
Regarding reporting of Central and State Government transactions to RBI including uploading of GST or TIN2.0 e-receipts luggage file, reporting window of March 31 to be kept open till 12 noon on April 1, RBI directs all banks Have given.
