Mumbai: The Reserve Bank of India (RBI) has announced that its core banking solution, e-Kuber, will be operational on Sunday, March 31, 2024.
Traditionally, e-Kuber remains inactive on public holidays such as Republic Day (January 26), Independence Day (August 15), Gandhi Jayanti (October 2), as well as on the second and fourth Saturdays of each month and all Sundays.
In response to an advisory from the Controller General of Accounts, Government of India, the RBI has decided to make an exception for March 31, 2024. The Controller General of Accounts has emphasised the importance of accounting for all government transactions with accuracy, including receipts and payments, within the financial year 2023-24 itself. Therefore, March 31, 2024, despite being a Sunday, will be treated as a working day for these transactions.
This decision means that government transactions integrated with e-Kuber on March 31, 2024, will be recorded in the financial year 2023-24, aiding in the calculation of the Government of India’s cash balance.
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