This follows the Authorities of India’s request to maintain all branches of the banks coping with Authorities receipts and funds open for transactions on the stated day to account for all of the Authorities transactions referring to receipts and funds within the FY24 itself.
RBI requested Banks to provide due publicity concerning the availability of the above banking providers on at the present time.
The central financial institution maintains the Principal Accounts of Central in addition to State Governments at its Central Accounts Part, Nagpur. It has put in place a well-structured association for income assortment and funds on behalf of the Authorities throughout the nation.
A community comprising the Authorities Banking Divisions of RBI and branches of company banks appointed underneath Part 45 of the RBI Act carries out authorities transactions.
The central financial institution has 33 company banks, together with 12 public sector banks, 20 non-public sector banks and one overseas financial institution (DBS Financial institution India Ltd).
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