With the financial year set to come to an end in 10 days, firms and individuals will rush for the final closing of their accounts. To make the process seamless, the Reserve Bank of India has instructed banks to keep branches open till working hours of March 31.
Which tasks can be completed?
The letter has also mentioned that all government transactions being conducted by agency banks, must be accounted for in this financial year.
Hence all lenders will keep carry out over-the-counter transactions related to the government while National Electronics Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) will be cleared till 12 midnight.
Special clearing of government cheques to be done
For processing government cheques, special clearing will also be conducted as per instructions of the RBI.
The reporting window for tasks including the upload of GST receipts, will be kept operational till 12 noon on April 1, 2023.
Apart from banking transactions and account closing, March 31 is also the deadline for linking PAN cards with Aadhar, so that they don't become invalid.
