March Closing: Effect of March closing! Not only banks, these offices will remain open this Saturday-Sunday

March Closing: Effect of March closing!  Not only banks, these offices will remain open this Saturday-Sunday

While this weekend has become a long weekend for many, on the other hand, holidays in many offices have been cancelled. Many offices which are closed on Saturday and Sunday are going to remain open this weekend. They include many banks, LIC, Income Tax Department etc.

All these banks will remain open

Among the offices which are going to remain open on this weekend, the first to be mentioned are the banks. . The Reserve Bank has asked all the banks doing agency banking to open their branches on this weekend. Due to this, today and tomorrow, along with all the government banks, branches of almost all the private banks are also going to remain open. Agency banks are those banks which settle government transactions. A total of 33 banks including 12 government banks are included in the agency banks. This means that the branches of government banks like SBI, PNB, Bank of Baroda and private banks like HDFC Bank, ICICI Bank will remain open from today onwards.

These offices of RBI

This Not only bank branches will open on weekends, but many offices of the Reserve Bank will also remain open. According to the notification of the Reserve Bank, its offices which deal in government work will also remain open on Saturday and Sunday. This means that the headquarters of the Reserve Bank and its regional offices are also going to work today and tomorrow.

These works will be done in the banks

According to the RBI notification, the banks will be working on both the days. Will do normal business and will open as per normal timings. Normal electronic transactions will work on both days. This means that both National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) will be available till midnight of March 31. Check clearing services will also be available on both the days.

All the offices of the Income Tax Department

All the offices of the Income Tax Department are also going to open on this weekend. The Income Tax Department has issued an order in this regard and has informed about the opening of all its offices. According to the order issued on March 18, Income Tax Department offices across the country will remain open on March 29, March 30 and March 31. The offices will try to settle the pending work of the current financial year in all three days.

Offices of all insurance companies

Insurance regulator IRDAI has asked insurance companies to keep their offices open on weekends. Said. This instruction of IRDA is applicable to government insurance companies as well as private insurance companies. Government insurance company LIC has given separate information in this regard. LIC has told that after Saturday and Sunday, all its offices are going to work for two days.

This is why the long weekend is spoiled

This situation is at the end of the current financial year i.e. March. Caused by closing. The current financial year ends tomorrow on 31st March. After that, the new financial year 2024-25 will start on 1 April 2024. In such a situation, the pressure increases for banks, income tax department and insurance companies to settle the work of the old financial year. This also gives additional time to customers and taxpayers to complete the pending work. On the other hand, it has become a long weekend for many employees. Before the weekend holiday of Saturday and Sunday, there was a holiday of Good Friday on Friday.

Also read: In this financial year, these 5 IPOs gave more than 150% returns.

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