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Bank Holiday Today (April 1): Here's what you need to know
On account of the financial closing of accounts on April 1, 2019, all commercial and co-operative banking institutions will remain closed on Monday.
On account of the financial closing of accounts on April 1, 2019, all commercial and co-operative banking institutions will remain closed on Monday. The Reserve Bank of India said that all commercial banks will not be operating on the first day of the upcoming financial year. However, bank branches will be open on Sunday to facilitate transactions like government receipts and payments.
In a notification on March 26th, the central bank had said, “the Government of India has advised that all Pay and Account Offices will remain open on March 31, 2019 (Sunday) to facilitate government receipt and payment transactions.”
“Banks shall give due publicity about availability of above banking services on the first day of April,” the notification further added.
In another notification issued on March 28th, RBI mentioned that it has decided on conducting special clearing at all “clearing houses across the country on March 30 and 31, 2019.” Sharing the details of the timings, it said RBI offices as well as the designated branches of agency banks “will keep their counters open up to 8.00 p.m. on March 30, 2019 and up to 6.00 p.m. on March 31”.
March 31 will be the last day of this financial year and the next financial year, i.e FY 2019-20, will begin on April 1.
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