No bank holiday tomorrow: These banks and LIC are open on March 31, 2024 for tax-based tasks

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New Delhi: Banks and India’s largest insurer, the Life Insurance Corporation of India will remain open on Sunday, March 31, 2024, since it is the last day of financial year 2023-24. The Reserve Bank of India had earlier directed agency banks to remain on Sunday for financial closing.

However, these 33 banks and LIC have been asked to remain open for the benefit of the government and to facilitate tax payments. This indicates that usual banking business may not be conducted at banks on Sunday. It is notable that banks are normally closed on Sunday and the second and fourth Saturday of every month. Banks, LIC and tax offices are expected to remain open until late at night on Sunday. The Indian financial year opens on April 1 and closes on March 31. To be sure, bankers will be given leave on April 1. 2024 in lieu of a working Sunday.

Which banks are open on Sunday?

There are 33 agency banks overall which include 12 state-owned banks and 21 private banks including one foreign lender. Agency banks are banks that are authorised to carry out government business including tax collections and bond trading.

Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Indian Bank, Indian Overseas Bank, Punjab and Sind Bank, Punjab National Bank, State Bank of India, UCO Bank and Union Bank of India are the PSU banks which will remain open on Sunday.

Private banks that are open on Sunday are as follows:

Sl No.
Name of Agency Bank (private)

1
Axis Bank Ltd.

2
City Union Bank Ltd.

3
DCB Bank Ltd

4
Federal Bank Ltd.

5
HDFC Bank Ltd.

6
ICICI Bank Ltd.

7
IDBI Bank Ltd.

8
IDFC FIRST Bank Ltd

9
IndusInd Bank Ltd

10
Jammu and Kashmir Bank Ltd. *

11
Karnataka Bank Ltd.

12
Karur Vysya Bank Ltd.

13
Kotak Mahindra Bank Ltd.

14
RBL Bank Ltd

15
South Indian Bank Ltd.

16
Yes Bank Ltd.

17
Dhanlaxmi Bank Ltd.

18
Bandhan Bank Ltd.

19
CSB Bank Ltd.

20
Tamilnad Mercantile Bank Ltd.

21
DBS Bank India Limited#

DBS Banks India is a unit of Singapore-based DBS Bank and has been authorised to carry out agency business by RBI.

Sl No.
Name of Agency Bank (private)

1
Axis Bank Ltd.

2
City Union Bank Ltd.

3
DCB Bank Ltd

4
Federal Bank Ltd.

5
HDFC Bank Ltd.

6
ICICI Bank Ltd.

7
IDBI Bank Ltd.

8
IDFC FIRST Bank Ltd

9
IndusInd Bank Ltd

10
Jammu and Kashmir Bank Ltd. *

11
Karnataka Bank Ltd.

12
Karur Vysya Bank Ltd.

13
Kotak Mahindra Bank Ltd.

14
RBL Bank Ltd

15
South Indian Bank Ltd.

16
Yes Bank Ltd.

17
Dhanlaxmi Bank Ltd.

18
Bandhan Bank Ltd.

19
CSB Bank Ltd.

20
Tamilnad Mercantile Bank Ltd.

21
DBS Bank India Limited#

LIC and tax offices to remain open on March 31 2024

LIC offices will remain open on March 31, 2024 to facilitate customers to purchase last minute tax saving schemes seeling exemption under Section 80C of the Income Tax Act. Income tax offices will also remain open as per a directive of the Central Board of Direct Taxes (CBDT) to finish tax related work and conclude financial closing on the last day of FY24.

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