The Reserve Bank of India has given instructions to all the banks regarding the annual closing. Under which bank branches will remain open till March 31. Along with this, all government transactions will also have to be accounted for within the financial year 2022-23.
RBI Gave Instructions To Banks : Reserve Bank of India has given instructions to all banks regarding Annual Closing. On Tuesday, the RBI has written to agency banks directing them to keep their branches open during normal working hours till March 31, 2023. Along with this, it will be mandatory to finish the account of counter transactions related to all government transactions in the financial year 2022-23.
According to media reports, the RBI also said that, “Transactions through the National Electronic Fund Transfer (NEFT) and Real Time Gross Settlement (RTGS) systems will continue till 12 midnight on March 31, 2023.” Along with this, special clearing will also be organized for collection of government cheques. The instructions related to this process will be issued by the Department of Payment and Settlement Systems (DPSS) of RBI.
The central bank also said in the directive that, “The reporting window of March 31 to RBI for reporting transactions of Central and State Governments including Goods and Services Tax (GST) or TIN 2.0 e-receipts for luggage file uploading is April 1.” Will be kept open till 12 noon.
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