March 21, 2006

The Chairman/Chairman & Managing Director/Managing Director
State Bank of India & its Associate Banks
All Public Sector Banks
Jammu & Kashmir Bank Ltd.
HDFC Bank Ltd/ICICI Bank Ltd.
UTI Bank Ltd/IDBI Ltd.

Dear Sir,

We have received requests from Government of India for extension of the banking hours on March 31, 2006 by offices of Reserve Bank and branches of Agency banks conducting Government business so that the receipts of taxes are facilitated till late hours on that date. Accordingly, with a view to meeting the probable rush of tax payers on account of closing of Government Accounts for the current Financial Year (2005-06), it has been decided that the agency banks and Reserve Bank Offices should provide usual facilities to assessees for deposit of taxes on March 31, 2006 (Friday). Depending on the Government requirements and the rush of the assessees for payment of taxes, you may suitably extend the banking hours of your branches authorised to conduct Government business by keeping the counters open for the purpose, taking into account security aspects of the bank branch concerned. No assessee should be turned away from the bank without payment of tax.

2. Special clearing (with return clearing) may be conducted in the evening/night of March 31,2006 with the approval of the President of Local Clearing Houses run by RBI/Agency Bank keeping in view the operational convenience at the local centres so that the cheques deposited are realized and credited to Government account on the same day.

3. A Press Communique may also be released by the Agency Banks for the information of the public and tax payers in all leading dailies, in English, Hindi and vernacular, notifying the names of branches of the agency banks in the respective town/cities which are designated to accept taxes, so that the pressure on bank branches is evenly distributed. The press communiqué should be issued right from March 25, 2006 and thereafter be repeated. It may be specially mentioned in the press communiqué that in view of the expected rush, public may deposit taxes well before March 31, 2006.

4. The instructions as above apply only to receipt of taxes.

Yours faithfully,

(M.T.Varghese)
General Manager