Authorised banks to stay open until 8 p.m. on Thursday

New Delhi, March 31 (IANS) All designated branches of ‘agency banks’ will remain open till eight p.m. on Thursday to help people pay their taxes on the last day of the financial year 2015-16, the Reserve Bank of India said.

‘Agency banks’ are banks that are authorised to carry out government transactions, such as collection of taxes.

The ‘agency banks’ will keep the counters of their designated branches conducting government business open till 8.00 p.m. on Thursday. All electronic transactions will continue till midnight.

Real Time Gross Settlement and National Electronic Funds Transfer will also remain operational for extended hours.

State-owned IDBI Bank too will remain open for extra hours despite a section of its employees being on strike.

Thursday is the last day of the strike called by two of IDBI Bank trade unions in protest the reported moves by the central government to bring down its equity in the bank to less than 50 percent.

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