RBI New Order: Earlier, banks were going to be closed in most states on the occasion of Eid-ul-Fitr. But now under the new instructions of the government and RBI, all banks will remain open on this day.
Bank Holiday In March: The Reserve Bank of India (RBI) has canceled the Eid-ul-Fitr holiday on 31 March 2025. RBI has ordered all banks to ensure that the bank remains open on 31 March. Actually, March 31 is the last date of the financial year 2024-25. In such a situation, RBI has issued this order so that all government transactions can be completed properly by the end of the financial year 2024-25.
RBI has clarified that all banks that handle government transactions will remain open on 31 March 2025. Its purpose is to ensure that all government transactions, receipts and payments are recorded in the financial year 2024-25 itself.
Banks will remain open across the country
Earlier, banks were going to remain closed in most states on March 31 due to Eid-ul-Fitr. It was also declared a bank holiday in almost all the states except Himachal Pradesh and Mizoram. But now under the new instructions of the government and RBI, all banks will remain open on this day.
31 March is the last day of the financial year
March 31 is the last day of the government’s financial year. On this day, all government revenues, payments and other financial transactions are required to be completed. Therefore, the government took this step to ensure correct reporting of the financial year 2024-25.
Which banking services will be available?
On this day, government taxes like income tax, GST, customs and excise duty can be paid. Also, the work of pension payment, government subsidy transfer, details of government salaries and allowances will also continue.
Note with signature of new governor will be issued soon
The Reserve Bank of India will soon issue a Rs 50 banknote with the signature of newly appointed Governor Sanjay Malhotra. Malhotra replaced Shaktikanta Das in December 2024. The central bank said in a statement on Wednesday that the design of these notes will be similar to the Rs 50 banknotes of the Mahatma Gandhi (New) series.
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