Thursday, March 27, 2014

RBI NOTIFICATIONS FOR MAR 29,30 AND 31

RESERVE BANK OF INDIA                             Date : 26 Mar 2014

Banks and RBI to facilitate Tax Payments on March 29, 30 and 31, 2014.

With a view to providing greater convenience to tax payers, it has been decided that all designated branches of agency banks and RBI Offices conducting government business will keep their counters open for extended hours on Saturday, March 29, and Monday, March 31, 2014 till 8.00 p.m. This arrangement will apply where March 31, 2014, has not been declared as a public holiday. On Sunday, March 30, 2014, and on Monday, March 31, 2014 (at places where holiday under the Negotiable Instruments Act has been declared), agency banks would keep select branches open for transacting government business at locations identified by them based on volume of transactions.


Facility of electronic transactions would, however, continue till midnight on March 31, 2014.

In order to facilitate government receipts, necessary arrangements have also been made to conduct special clearing operations across the country. Centralised payment systems, such as, Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) will also be operational on these three days (from March 29, 2014, to March 31, 2014).

Alpana Killawala
Principal Chief General Manager

Press Release : 2013-2014/1899
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EFFECTS:

* As only limited branches out of tax-collecting branches are asked to work, banks will open only minmum branches to cut overtime wages for award staff.

* Officers in the non opned tax collecting branches will feel shy of releif for not asked to come to office on holidays.

* Some banks like SBi and Oriental Bank of commerce are said to be compensating officers also for these occasions.

* RBi has not asked banks to open on holidays for routine transactions for customers. In previous occations when continous holidays are coming Banks are denied any one holiday day and made it a working day.
( In TamilNadu 3 and  1/2  days continous holiday is coming including April 1 being a non transaction working day for customers)

1 comment:

atulsingh Jadon said...

If they are not listing to us, why should do work for them. why bank should give extra money and resources for tax collection.