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LIC Offices, Other Insurance Companies And Banks To Remain Open On March 30, 31; Details
sanjeev | March 29, 2024 11:21 PM CST

Insurance Services To Remain Open On March 30-31: LIC offices in the nation will be open on March 30-31 i.e. Saturday, and Sunday as typical working days.
On these days, the offices under the jurisdiction of its zones and divisions would be open for regular operations according to regular working hours, the country's largest insurer Life Insurance Corporation (LIC) said in a notification. The Insurance Regulatory and Development Authority of India (IRDA) has asked insurance firms to keep their workplaces open on the 30th and 31st of March to avoid any inconvenience to policyholders as FY'24 is scheduled to end on March 31. The current Financial year concludes on 31st March This measure became obligatory because the fiscal year concludes on March 31, which could be a holiday. IRDAI has asked insurance firms to take note of the suggestion and publicise the unique arrangements being created to keep branches open on weekends. IRDAI has also given recommendations. Banks to be open on March 31 Not only IRDAI, but the Reserve Bank of India has also instructed banks to open their assigned branches during regular working hours on weekends for government-related transactions. RBI and the Government of India have given recommendations for the same. In addition, RBI offices managing government work would also be open during usual working hours on March 30-31. Financial services to be available on the final day of the Fiscal year The Reserve Bank stated that considering yearly account closing, the facility of exchange or deposit of Rs 2,000 banknotes would not be accessible on April 1. National Electronic Fund Transfer (NEFT) and Real Time Gross Settlement (RTGS) services will be available until midnight on March 31. Apart from banks and insurance firms, the Income Tax Department will also be open.


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