HDFC Bank has informed its customers that National Electronic Funds Transfer (NEFT) transactions may not be available on April 1, 2024, due to procedures regarding financial year-ending. Even if the NEFT facility is available for select HDFC Bank customers, it may get delayed. So those who are planning to transfer money may avoid NEFT on Monday.
Further, if you receive salary or other payments through NEFT transfer on April 1, 2024, they may also get delayed due to the same reason.
HDFC Bank customers may use other transaction methods such as Immediate Payment Service (IMPS), Real Time Gross Settlement (RTGS), and Unified Payments Interface (UPI) to transfer money on April 1, 2024.
In a mail to customers, HDFC Bank wrote, “Please note, outward NEFT transactions may get delayed/ may not be available on 1st April 2024 due to financial year-end procedures. We request you to please complete your transaction using IMPS, RTGS, or UPI during this period. We regret any inconvenience this may cause.”
If you require any assistance regarding transferring money tomorrow, you can contact the customer support team of the bank on 18001600 /1800 2600, the private sector bank added.
Are banks open on April 1, 2024?
If you are planning to visit your bank branch on Monday, keep in mind that all banks may not remain open tomorrow, April 1, 2024. Banks in many states will be shut on April 1, 2024, due to the closing of their year accounts, according to the guidelines set by the Reserve Bank of India (RBI). Banks will remain closed in most of the states except Mizoram, Chandigarh, Sikkim, Bengal, Himachal Pradesh, and Meghalaya. So, check the list of bank holidays before going to your bank branch on Monday.
No exchange of Rs 2000 note
RBI has also said that the exchange and deposit of the Rs 2,000 notes will not be available on Monday, April 1. “The facility of exchange/deposit of Rs 2000 banknotes will not be available on Monday, April 01, 2024, at the 19 Issue Offices1 of the Reserve Bank of India due to operations associated with the Annual Closing of Accounts. The facility will resume on Tuesday, April 02, 2024,” RBI said in a notification issued on March 28, 2024.
Banks open on Sunday, March 31, 2024
According to the Reserve Bank of India’s official notification, “The Government of India has made a request to keep all branches of the banks dealing with Government receipts and payments open for transactions on March 31, 2024 (Sunday) so as to account for all the Government transactions relating to receipts and payments in the FY 2023-24 itself. Accordingly, Agency Banks are advised to keep all their branches dealing with government business open on March 31, 2024 (Sunday)”.
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