Although every Sunday, government and private banks of the country remain closed, this time it will not happen. The country's official banks will be open on this Sunday ie March 31. In this regard, the Reserve Bank of India (RBI) had issued a circular yesterday.
Actually, March 31 is the last day of the financial year (financial year). Closing is done on banks this day. Therefore, bank branches with government transactions have been ordered to keep open.
According to RBI circular- All branches of government transactions, authorized branches of banks will be open till March 30, 2019, to 8 pm and on 31st March 2019, at 6.00 p.m. for public transactions. In addition, all types of electronic transactions, including RTGS and NEFT, will also be open till 30 and 31 March 2019.
This Sunday will be the work related to the common customers. For example, if you have to deposit checks in the bank branch, you can do this work on Sunday. With this, Sunday can also take advantage of online banking NEFT-RTGS service. Banks will also be able to work related to payments. Let us tell you that NEFT, RTGS service is closed on Sundays.
Settlement of fund transfer under NEFT means national electronic fund transfers at a fixed time. Under the easy language, the fund that you transfer will not arrive immediately. This process of money transfer is completed after some time. NEFT can be used online in addition to online bank branches.
In the banks, this service is available from Monday to Friday and 5 hours on Saturday (8 am to 1 pm). This service is not available on Sundays and holidays.
RTGS means that there can be an amount of more than 2 lakh rupees in immediate transfer through Real Time Gross Settlement. It can be used both through online and bank branches. However, RTGS service is not available in banks on Sundays and holidays. But RTGS will be able to do this Sunday.
