IRDAI stated in a release on Friday that insurance companies have been instructed to maintain regular business hours on March 30 and March 31 in order to prevent any inconvenience for policyholders.
Banks to Remain Open
Aside from insurance companies, all bank offices that process government payments and receipts will be open for business on March 30 and March 31. The RBI stated in a notification dated March 20, 2024, "In order to account for all government transactions relating to receipts and payments in the FY 2023–2024 itself, the Government of India has requested that all bank branches handling government receipts and payments remain open for transactions on March 31, 2024 (Sunday)."
As a result, Agency Banks are recommended to maintain all of its branches open on Sunday, March 31, 2024, for government business.
"It has been decided to provide greater convenience to taxpayers, and all designated branches of agency banks conducting government banking business will keep their counters open as per normal working hours on March 30, 2024 and March 31, 2024," the RBI said in a separate press release dated March 22, 2024. On March 31, 2024, the National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) systems will remain open for business until 2400 hours.
Tax Division is also Operational
Additionally, the income tax agency has made the decision to revoke the employees' long weekend. The last week of the month is a long weekend since this fiscal year 2023–24 concludes on March 31, 2024, a Sunday, March 30 is a Saturday, and March 29 is Good Friday, a public holiday.
