These banks will be open on Sunday, March 31, 2024; full list of RBI’s agency banks

economictimes.indiatimes.com:

Does this mean that all bank branches will be open on Sunday, March 31?

Which banks are open on March 31?

Note that not all bank branches will be open for transactions, only agency banks selected branch will be open on Sunday March 31, 2024.

As a result, Agency Banks are recommended to keep all of its branches dealing with with government receipts and payments open for transactions open on Sunday, March 31, 2024, for government business, according to the RBI notification dated March 20, 2024. The RBI has asked banks to give due publicity about the availability of the above banking services on this day.

Also read: Bank holidays in March 2024: Banks closed for 14 days across states; check state-wise list of bank holidays in March

What is an agency bank

As per the central bank website, “RBI carries out the general banking business of the governments through its own offices and commercial banks, both public and private, appointed as its agents. Section 45 of the Reserve Bank of India Act, 1934, provides for appointment of scheduled commercial banks as agents at all places or at any place in India, for purposes that it may specify, “having regard to public interest, convenience of banking, banking development and such other factors which in its opinion are relevant in this regard. Reserve Bank of India maintains the Principal Accounts of Central as well as State Governments at its Central Accounts Section, Nagpur. It has put in place a well-structured arrangement for revenue collection as well as payments on behalf