RBI: Agency Banks To Remain Open for Public on Sunday, March 31

The Reserve Bank of India (RBI) officially announced in a letter on Wednesday, March 20, 2024, that all agency banks will be open on Sunday, March 31. The agency banks that deal with government transactions will be open to the public. 

This step is taken by the RBI because the last day of the current financial year 2023-2024 falls on a non-working day. 

RBI added that Banks shall give due publicity on the availability of banking services on this day. The public sector banks which are listed under the Reserve Bank of India agency banks are Bank of India, Bank Of Maharashtra, Central Bank of India, Bank of Baroda, Indian Bank and Indian Overseas Bank.

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Private Bank’s Listed Under RBI Agency

Moreover, some of the private banks listed under RBI’s agency bank’s are Axis Bank Limited, City Union Bank Limited, Federal Bank, HDFC Bank Limited, ICICI Bank and among others. 

Meanwhile, RBI Governor, Shaktikanta Das called on FM, Nirmala Sitharaman ahead of the Central Bank’s interest rate setting panel meeting next month. 

These policy meetings come at a time when the industry is expecting an interest rate cut and the financial market is witnessing a high volatility. The RBI has kept the interest or repo rate at 6.5% since February 2023. 

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