RBI Directs Agency Banks to Remain Open on Public Holiday, March 31, 2025

The Reserve Bank of India has mandated that all agency banks remain open on March 31, 2025, which is a public holiday, to process government receipts and payments. This will ensure that transactions are completed within the 2024-25 fiscal year.

RBI Instructs Banks to Publicise Services on March 31, 2025

“Banks shall give due publicity about the availability of above banking services on this day,” the RBI said in a notification on Tuesday.

In the last fiscal year, the Reserve Bank of India announced that March 31, 2024 (Sunday) would be a working day for all agency banks handling Government transactions.

The RBI instructed all bank branches to remain open to ensure the completion of all Government transactions related to receipts and payments for the fiscal year 2023-24.

What are Agency Banks?

The Reserve Bank of India (RBI) has designated a number of banks, including public sector, private sector, and foreign banks, as its agency banks. These institutions are authorised to handle government transactions on the RBI’s behalf.

As of May 30, 2023, the list of RBI’s agency banks includes several scheduled public sector banks such as Bank of Baroda, State Bank of India, UCO Bank, and Union Bank of India, as well as private sector banks like Axis Bank, HDFC Bank, ICICI Bank, and foreign banks like DBS Bank India Limited.

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