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RBI offices, banks to remain open on Mar 29, 30, 31

Updated: Mar 28, 2013 11:59:40am
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New Delhi, Mar 28 (KNN) In order to provide greater convenience to eleventh hour tax payers, the Reserve Bank of India (RBI) has asked the agency banks to conduct special clearing operations on March 29 (Good Friday), March 30 (Saturday) and March 31 (Sunday).

March 31 is the last day of the financial year 2012-13.

“All Agency banks shall keep the counters of their designated branches conducting Government business open (full day with extended hours) on 29th, 30th and 31st March, 2013,” RBI said in a release.

“Agency Banks” are the lenders collecting taxes on behalf of the government which includes all public sector banks and three private sector lenders including ICICI Bank, HDFC Bank and Axis Bank. These were included into this category in 2012.

Further, for the convenience of the tax payers, RBI has also advised the banks to facilitate receipt of Government taxes even at late hours.  RBI has also issued instructions for conduct of Special Clearing on these three days (including same-day return clearing on 31.03.2013) whereby; the agency banks conducting Government businesses may present instruments in the special clearing on other participating banks.

Ahead of the RBI communiqué India's largest lender the State Bank of India (SBI) had issued a public notice in this regard.

The central bank also urged the tax payers to remit taxes well before the last date to avoid last minute rush.
Facility for payment of taxes on-line and through select ATMs is also available, the RBI added.

The offices Central Board of Direct Taxes (CBDT) and Central Board of Excise and Customs (CBEC) too will remain open on March 30 and 31 for tax collection.

The CBEC offices will also remain open on March 29.  Further, the member banks have also been instructed to be in a state of readiness to participate in the Central Payment Systems (RTGS and NEFT) on 29th, 30th and 31st March, 2013. (KNN)
 

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