What changed
RBI mandated extended banking hours (till 8 PM) on March 29 and 31, 2014, for government business at designated branches. On March 30 and holidays, banks may open select branches as regular working days at key locations based on transaction volume.
What it means for you
Banks must staff and secure branches for extra hours to process tax and revenue receipts for central and state governments. This ensures no government transaction is delayed due to year-end rush, but adds operational cost and compliance burden for agency banks.
What you must do
- Keep designated government business counters open till 8 PM on March 29 and 31, 2014, at non-holiday locations.
- Open select branches on March 30 and holiday locations on March 31 as regular working days for government transactions.
- Publicize extended hours and special branch operations to taxpayers through local media and branch notices.
- Coordinate with RBI's DPSS for extended clearing sessions on these dates as per separate guidelines.
Who it affects
All agency banks handling government business, Designated branch managers and staff, Taxpayers and government revenue collectors, RBI's Department of Payment and Settlement Systems
Are all branches required to stay open till 8 PM on March 29 and 31?
No, only designated branches conducting government business at locations where March 31 is not a public holiday must keep counters open till 8 PM.
What about electronic transactions on these days?
All electronic transactions for government business will continue till midnight on March 31, 2014, regardless of branch hours.
Do we need to open branches on Sunday, March 30?
It is optional but recommended at key locations with high transaction volumes. Banks should decide based on local needs and give due publicity.