Banking hours extended for annual closing of government accounts and tax payments

With a view to facilitating accounting for all the Government transactions of the current financial year (2007-08) by March 31, 2008 and meeting the probable rush of tax-payers towards the end of the year, Reserve Bank of India has decided, in consultation with Controller General of Accounts, Government of India, to take the following special measures in regard to conduct of Government transactions :

i) All Regional Offices of Reserve Bank of India (RBI) and branches of Agency banks conducting Government business will suitably extend the banking hours to conduct Government business by keeping their counters open for the purpose on March 29 and 31, 2008 to facilitate receipt of Government revenue from members of public even at late hours.

ii) Special clearing (with return clearing on the same day) shall be conducted in the evening/night of March 29 and 31, 2008, with the approval of the President of local Clearing Houses run by Reserve Bank of India/Agency bank keeping in view the operational convenience at the local centres so that the clearing instruments relating to Government revenue received from members of public are realized and credited to Government account by March 31, 2008.

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