These banks will be open on Sunday, March 31, 2024; full list of RBI’s agency banks

March 2024 bank holidays: The Government of India has requested that all bank branches handling government receipts and payments remain open for business on March 31, 2024 (Sunday). Here is a look at banks that will be open on March 31.


In order to account for all government operations pertaining to receipts and payments in the FY 2023–2024, the Government of India has requested that all bank branches handling government receipts and payments remain open for business on March 31, 2024 (Sunday). The Reserve Bank of India stated this in a notification issued on March 21, 2024
Does this mean that all bank branches will be open on Sunday, March 31?


Which banks are open on March 31?

Note that not all bank branches will be open for transactions, only agency banks selected branch will be open on Sunday March 31, 2024
As a result, Agency Banks are recommended to keep all of its branches dealing with with government receipts and payments open for transactions open on Sunday, March 31, 2024, for government business, according to the RBI notification dated March 20, 2024. The RBI has asked banks to give due publicity about the availability of the above banking services on this day.


What is an agency bank

As per the central bank website, “RBI carries out the general banking business of the governments through its own offices and commercial banks, both public and private, appointed as its agents. Section 45 of the Reserve Bank of India Act, 1934, provides for appointment of scheduled commercial banks as agents at all places or at any place in India, for purposes that it may specify, “having regard to public interest, convenience of banking, banking development and such other factors which in its opinion are relevant in this regard. Reserve Bank of India maintains the Principal Accounts of Central as well as State Governments at its Central Accounts Section, Nagpur. It has put in place a well-structured arrangement for revenue collection as well as payments on behalf of Government across the country. A network comprising the Government Banking Divisions of RBI and branches of agency banks appointed under Section 45 of the RBI Act carry out the government transactions. At present all the public sector banks and select private sector banks act as RBI's agents. Only designated branches of agency banks can conduct government banking business.”
Full list of agency banks
Data from the RBI website, which was released on December 7, 2023, indicates that there are 33 agency banks. Agency banks are those which are authorized for government operations pertaining to receipts and payments.

List of agency banks of RBI as on May 30, 2023


Sl No.Name of Agency Bank
Scheduled Public Sector banks (post amalgamation)
1Bank of Baroda
2Bank of India
3Bank of Maharashtra
4Canara Bank
5Central Bank of India
6Indian Bank
7Indian Overseas Bank
8Punjab and Sind Bank
9Punjab National Bank
10State Bank of India
11UCO Bank
12Union Bank of India
Scheduled Private Sector Banks
13Axis Bank Ltd.
14City Union Bank Ltd.
15DCB Bank Ltd
16Federal Bank Ltd.
17HDFC Bank Ltd.
18ICICI Bank Ltd.
19IDBI Bank Ltd.
20IDFC FIRST Bank Ltd
21IndusInd Bank Ltd
22Jammu and Kashmir Bank Ltd. *
23Karnataka Bank Ltd.
24Karur Vysya Bank Ltd.
25Kotak Mahindra Bank Ltd.
26RBL Bank Ltd
27South Indian Bank Ltd.
28Yes Bank Ltd.
29Dhanlaxmi Bank Ltd.
30Bandhan Bank Ltd.
31CSB Bank Ltd.
32Tamilnad Mercantile Bank Ltd.
Foreign Banks
33DBS Bank India Limited
*Approved for limited agency business.
# Scheduled foreign bank issued license by RBI for carrying on banking business in India through Wholly Owned Subsidiary (WOS) mode.
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