**Summary:**
RBI Circular DBR.No.Leg.BC.5609/07.005/2016-17, issued March 29, 2017, revises previous instructions (DBR.No.Leg.BC.5509/07.005/2016-17 dated March 24, 2017) regarding the operational status of Agency Banks. The original circular mandated that all branches of Agency Banks dealing with government business remain open on all days, including Saturdays, Sundays, and holidays, and specifically on April 1, 2017. This revision, made in consultation with the Government of India, modifies the April 1, 2017 requirement. While Agency Banks are still required to keep their branches dealing with government business open on all other days including Saturdays, Sundays and holidays, they are now **not required** to remain open on April 1, 2017, due to concerns about potential disruptions to annual closing procedures, particularly in light of bank mergers effective on that date.
For further information, contact Rajinder Kumar, Chief General Manager, Department of Banking Regulation, Central Office, 12th Floor, Central Office Building, Shahid Bhagat Singh Marg, Mumbai, 400001. Telephone: 91-22-22661602. Fax: 91-22-22705691. Email: cgmicdbodcorbi.org.in.
Key Entities Referenced
Agency Banks: Banks authorized to conduct government business on behalf of the Reserve Bank of India (RBI).
Government of India: The central government of India.
DBR.No.Leg.BC.5609.07.005201617: Reference number of the RBI circular related to opening of Agency Banks for government business.
DBR.No.Leg. BC.5509.07.005201617: Reference number of the RBI circular dated March 24, 2017, advising Agency Banks to remain open.
Reserve Bank of India (RBI): The central bank of India.
Department of Banking Regulation: A department within the Reserve Bank of India (RBI).
Mumbai, Maharashtra: City in India, location of the Central Office of the Department of Banking Regulation.
Rajinder Kumar: Chief General Manager at the Department of Banking Regulation, Reserve Bank of India (RBI).
RBI/2016-17/259
DBR.No.Leg.BC.56/09.07.005/2016-17 March 29, 2017
All Agency Banks
Dear Sir/ Madam,
Opening of all Agency Banks for government business on April 1, 2017 –
Revised instructions
We had vide our circular DBR.No.Leg. BC.55/09.07.005/2016-17 dated March 24,
2017 advised all Agency Banks to keep all their branches dealing with government
business open on all days in the current financial year and on April 1, 2017
(including Saturday, Sunday and all holidays).
2. In this connection, it has been represented that the opening of bank branches on
April 1, 2017 may disrupt the annual closing, especially in view of merger of some
banks taking effect from that date. In consultation with Government of India, it has,
therefore, been decided that while the Agency Banks are to keep all their branches
dealing with government business open on all days in the current financial year
(including Saturday, Sunday and all holidays) as already advised, these branches
need not be kept open on April 1, 2017.
Yours faithfully,
(Rajinder Kumar)
Chief General Manager
___________________________________________________________________________
ब��कंग �व�नयमन �वभाग, क�द्र�य कायार्लय, 12 वी मंिजल, क�द्र�य कायार्लय भवन, शह�द भगत�सहं माग र् मुंबई 400001
Department of Banking Regulation, Central Office, 12th Floor, Central Office Building, Shahid Bhagat Singh Marg,, Mumbai,400001
टेलीफ़ोन/Tel No:91-22-22661602 फ़ैक्स/Fax No:91-22-22705691 Email ID:cgmicdbodco@rbi.org.in