What changed
RBI has directed all agency banks to keep branches dealing with government receipts and payments open on March 31, 2025, which is a public holiday. This is to ensure all government transactions for the financial year 2024-25 are accounted for within the same year.
What it means for you
Banks handling government business must operate on a public holiday to avoid any pending government receipts or payments spilling into the next financial year. This ensures accurate closure of government accounts for FY 2024-25. Banks need to arrange staffing and inform customers about the extended service.
What you must do
- Ensure all branches handling government business are open on March 31, 2025.
- Give due publicity about the availability of banking services on this day.
- Coordinate with government departments to process all receipts and payments on March 31.
Who it affects
All agency banks, Branches dealing with government receipts and payments, Government departments, Customers transacting with government
Why must agency banks open on March 31, 2025, a public holiday?
The Government of India requested to account for all government transactions in FY 2024-25 itself, so RBI directed agency banks to remain open on that day.
Which branches need to be open on March 31, 2025?
Only branches that deal with government receipts and payments are required to be open for public transactions on that day.
Do banks need to inform customers about this?
Yes, banks must give due publicity about the availability of banking services on March 31, 2025.