Banks to Remain Full Day Open on 29, 30, 31st March for Tax Collection

Reserve Bank of India has asked all agency banks to remain their designated bank branches open on 29th, 30th and 31st March, 2013 for full day and extended hours due to expected rush in view of financial year 2012-13 closing.

At present all the public sector banks and three private sector banks viz. ICICI Bank Ltd., HDFC Bank Ltd. and Axis Bank Ltd. act as RBI’s agents. Only authorized branches of Agency banks can conduct Government business.

RBI/2012-13/453
DGBA.GAD.No.H – 5486/42.01.029/2012-13

March 21, 2013

The Chairman & Managing Director/The Chief Executive Officer
All Agency Banks

Dear Sir/Madam,

Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2012-13)

We have been requested by the Government of India and some State Governments to facilitate collection and accounting of all Government tax receipts for the current financial year (2012-13) up to March 31, 2013 keeping in view the likely rush of tax-payers towards the end of March 2013. Accordingly, it has been decided that all Agency banks shall keep the counters of their designated branches conducting Government business open (full day with extended hours) on March 29, 30 and 31, 2013 to facilitate receipt of Government taxes from members of public even at late hours.

2. As regards conduct of special clearing on these dates (including same-day return clearing on March 31, 2013), separate guidelines are being issued by our Department of Payment and Settlement Systems ( DPSS), Central Office, Mumbai.

3. You are requested to advise all concerned to strictly implement the above instructions.

Yours faithfully

(G. C. Biswal)
Deputy General Manager

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