No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2023-24/137 · issued 20 Mar 2024 · ~1 min read
Quick answerRBI directs all agency banks to keep branches handling government receipts/payments open on March 31, 2024 (Sunday) to book all FY 2023-24 government transactions. Banks must publicize this.
What changed
The Government of India requested that all government-related transactions for FY 2023-24 be accounted for within the financial year. RBI has now mandated that all agency bank branches dealing with government business remain open on March 31, 2024, a Sunday, to facilitate this.
What it means for you
Banks must ensure their government business branches are operational on the last day of the financial year, even though it's a Sunday. This is critical for accurate year-end closing of government accounts. Failure to comply could lead to reconciliation issues and regulatory scrutiny.
Historical instruction — do not use for current compliance. This is what was required at the time; it no longer reflects current RBI requirements. If no replacement rule is linked above, that only means none is recorded on our register yet — it does not prove no later applicable rule exists. Confirm on the official RBI source below.
What banks were required to do at the time
Ensure all branches handling government receipts and payments are open on March 31, 2024 (Sunday).
Arrange adequate staffing and systems to process government transactions smoothly on that day.
Issue internal circulars and public notices (e.g., SMS, website, branch boards) about the Sunday banking availability.
Coordinate with your treasury and IT teams to ensure seamless transaction recording and reporting.
Who it affects
All agency banks (public and private sector banks handling government business), Branch managers of government business branches, Treasury and operations teams of scheduled commercial banks
❓ Common questions
Regulatory timeline
Decoded by BankPulse2026-06-18 03:38 IST
Status change: withdrawn03 Aug 2026, 04:00 IST
Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).
Which branches need to be open on March 31, 2024?
Only branches that deal with government receipts and payments (agency bank branches) must remain open. Other branches can follow normal Sunday closure.
What transactions are covered under this directive?
All government-related receipts and payments for FY 2023-24, such as tax collections, government disbursements, and other agency transactions.
What happens if a branch fails to open?
Non-compliance may lead to delayed booking of government transactions, potential penalties from RBI, and audit observations for the financial year closing.
📜 Read the original circular — full text as issued by RBI
RBI/2023-24/137
DOR.SOG (LEG).REC/84/09.08.024/2023-24
March 20, 2024
All Agency Banks
Madam / Dear Sir
All Agency Banks to remain open for public on March 31, 2024 (Sunday)
The Government of India has made a request to keep all branches of the banks dealing with Government receipts and payments open for transactions on March 31, 2024 (Sunday) so as to account for all the Government transactions relating to receipts and payments in the FY 2023-24 itself. Accordingly, Agency Banks are advised to keep all their branches dealing with government business open on March 31, 2024 (Sunday).
2. Banks shall give due publicity about the availability of above banking services on this day.
Yours faithfully
(Sunil T S Nair)
Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2023-24/137 · issued 20 Mar 2024. The plain-English explanation above is BankPulse’s own independent summary.
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12635&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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