As the financial year comes to a close, various institutions are making special arrangements to accommodate last-minute transactions and ensure a smooth transition into the new fiscal year. From banks to insurers to the tax department, several entities are extending their working hours to facilitate essential activities. Let’s take a closer look at what you can do on March 30 and March 31, 2024.
Banking Transactions
The Reserve Bank of India (RBI) has mandated that all agency banks keep their designated branches open for over-the-counter transactions related to government activities. This includes transactions such as NEFT and RTGS until midnight on March 31. Additionally, cheque clearing for government accounts will be facilitated through special clearing sessions.
Agency Banks:
- Bank of Baroda
- State Bank of India
- HDFC Bank
- ICICI Bank
- Punjab National Bank
- and others
Note: While many banks are designated as agency banks, it’s advisable to confirm the operating status of your branch.
Insurance Operations
Insurers have been instructed by the Insurance Regulatory and Development Authority of India (IRDAI) to keep their offices open during normal working hours on March 30 and March 31. This ensures that policyholders can avail themselves of necessary services without disruption.
Insurance Providers:
- Life Insurance Corporation of India (LIC)
- Private insurance companies
Tax Department Services
The Income-tax department has announced that all Income Tax Offices across India will remain open on March 29, 30, and 31. This allows taxpayers to complete pending departmental work and file any last-minute returns before the deadline.
Additional Services
- Exchange and Deposit of Rs 2,000 Notes: The Reserve Bank of India has advised that the exchange and deposit of Rs 2,000 notes will not be available on April 1 due to annual closing of accounts. This service will resume on April 2.
How to Utilize These Services
- Banking Transactions: Visit your nearest branch of the designated agency bank to conduct transactions such as NEFT, RTGS, cheque clearing, and government-related payments.
- Insurance Operations: Contact your insurance provider’s office or visit their branch during regular working hours for policy-related inquiries, premium payments, and other services.
- Tax Department Services: Make use of the extended working hours at Income Tax Offices to file returns, settle pending matters, and seek assistance from tax officials if needed.
- Exchange and Deposit of Rs 2,000 Notes: Plan your currency exchange or deposit accordingly, keeping in mind the temporary suspension of services on April 1.
In conclusion, these special arrangements by banks, insurers, and the tax department aim to provide convenience and assistance to individuals during the financial year-end. Whether you need to complete banking transactions, address insurance-related queries, or file tax returns, take advantage of these extended hours to fulfill your requirements efficiently.
