Banks will remain open across the country on Sunday on account of the end of the financial year 2024. However, their operations will primarily focus on handling government receipts and payments on March 31.
“Agency Banks are advised to keep all their branches dealing with government business open on March 31,” the Reserve Bank of India (RBI) said in a statement.
Which banking services will be available today?
• Agency banks are advised to process all government account cheques for clearing by RBI.
• Normal NEFT and RTGS transactions will be functional on March 31.
• Agency banks will handle revenue receipts, government pension payments, and state/central government transactions.
• Tasks involving bonds and savings bonds transactions, including Kisan Vikas Patra, 2014, Sukanya Samriddhi Account, PPF, Special Deposit Scheme, and Senior Citizen Savings Scheme will be managed by the banks.
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List of Agency banks
Scheduled Public Sector Banks (post-amalgamation):
1. Bank of Baroda
2. Bank of India
3. Bank of Maharashtra
4. Canara Bank
5. Central Bank of India
6. Indian Bank
7. Indian Overseas Bank
8. Punjab and Sind Bank
9. Punjab National Bank
10. State Bank of India
11. UCO Bank
12. Union Bank of India
Scheduled Private Sector Banks:
13. Axis Bank Ltd.
14. City Union Bank Ltd.
15. DCB Bank Ltd.
16. Federal Bank Ltd.
17. HDFC Bank Ltd.
18. ICICI Bank Ltd.
19. IDBI Bank Ltd.
20. IDFC FIRST Bank Ltd.
21. IndusInd Bank Ltd.
22. Jammu and Kashmir Bank Ltd. (Approved for limited agency business)
23. Karnataka Bank Ltd.
24. Karur Vysya Bank Ltd.
25. Kotak Mahindra Bank Ltd.
26. RBL Bank Ltd.
27. South Indian Bank Ltd.
28. Yes Bank Ltd.
29. Dhanlaxmi Bank Ltd.
30. Bandhan Bank Ltd.
31. CSB Bank Ltd.
32. Tamilnad Mercantile Bank Ltd.
Foreign Banks:
33. DBS Bank India Limited
DBS Bank has clarified that while they have been authorised for agency business by the RBI, their integration process for these services is still ongoing. As these services have not been launched yet, their branches will remain closed on March 31.
