`Insurers may take note of the above and give adequate publicity to the special arrangement made as above,” said the IRDAI on Thursday
Hyderabad:
Like its banking counterpart Reserve Bank of India(RBI), insurance regulator IRDAI has also asked insurers to keep their branches open as per normal working hours on March, 30, 2024 and March, 31, 2024 In order to avoid any hardship to the policyholders.
`Insurers may take note of the above and give adequate publicity to the special arrangement made as above,” said IRDAI on Thursday.
“It has been decided that the offices under jurisdiction of zones and divisions will be kept open for normal operations as per official working hours on 30th and 31s,” said Life Insurance Corporation in a statement.
Earlier, the the RBI has said that all designated branches of agency banks will remain open on Saturday and Sunday, as a part of “special measures for the current financial year.”
Further, in the wake of the annual closing of government accounts, RBI said that electronic transactions can be done till the stipulated time on both days—Saturday and Sunday, said RBI..
The statement said, “Transactions through National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) System will continue up to 2400 hours as hitherto on March 31, 2024.”
RBI released a statement informing that in order to provide “greater convenience to taxpayers”, agency banks will keep their counters open during office hours on March 30 and 31.
The statement read, “All Government transactions done by agency banks for the Financial Year 2023-24 must be accounted for within the same financial year. Accordingly, the following arrangements are put in place to report and account for Government transactions for March 31, 2024. All Agency banks should keep their designated branches open for over-the-counter transactions related to government transactions up to the normal working hours on March 30 and March 31, 2024.”