RBI exempts banks from opening on April 1 on annual closing
PrintListen to this Article
0:00
0:00
Reversing its earlier order, the Reserve Bank of India said that the bank branches dealing in government businesses need not remain open on April 1 in view of the annual closing business.
In its earlier directive on March 24, the RBI had asked all authorised banks to be open on all days from March 25 to April 1, including Saturday, Sunday and all holidays, to facilitate the government's receipts and payments. The departments concerned of RBI were also to remain open on these days.
In a letter to the Indian Banks' Association, unions AIBEA and AIBOA said the RBI issued the directive very late, causing huge resentment among bank employees.
AIBOA and AIBEA also pointed to the inconvenience caused to banks that are not sure which branches will remain open and who should attend office.
Every year banks remain closed on April 1 for their annual closing of accounts. #casansaar (NewsonAir)
In its earlier directive on March 24, the RBI had asked all authorised banks to be open on all days from March 25 to April 1, including Saturday, Sunday and all holidays, to facilitate the government's receipts and payments. The departments concerned of RBI were also to remain open on these days.
In a letter to the Indian Banks' Association, unions AIBEA and AIBOA said the RBI issued the directive very late, causing huge resentment among bank employees.
AIBOA and AIBEA also pointed to the inconvenience caused to banks that are not sure which branches will remain open and who should attend office.
Every year banks remain closed on April 1 for their annual closing of accounts. #casansaar (NewsonAir)
Category : RBI | Comments : 0 | Hits : 440
The Supreme Court on Friday set aside the rejection of an IRS officer’s candidature for appointment as a member of the Income Tax Appellate Tribunal (ITAT), ruling that the involvement of the th...
The Reserve Bank of India (RBI) on Friday unveiled a set of liquidity-boosting measures aimed at infusing more than $23 billion (around ₹2 lakh crore) into the banking system, after review...
RBI has issued draft rules to tighten dividend payouts by banks by linking distributions to capital adequacy, asset and profit quality, setting a uniform prudential framework effective from FY27. In t...
Comments