Are LIC offices open today (March 31)? Here is everything policyholders need to know

Are LIC offices open today? State-run life insurance giant Life Insurance Corporation's offices will remain open for normal working hours on March 31, 2024, the last day of the financial year. LIC's offices "under the jurisdiction of zones and divisions" also remained open for normal timings the previous day, Saturday, March 30. The PSU insurer took to microblogging site X (formerly Twitter) to state that the decision was to ensure its policymakers don't face any hardships on March 31, following special directions issued in this regard by the banking regulator RBI and the insurance regulator IRDAI.

"It has been decided that the Offices under the jurisdiction of Zones and Divisions will be kept open for normal operations as per official working hours on 30.3.2024 and 31.3.2024, in order to avoid any hardship to the policyholders. This is as per the advisory issued by the Insurance Regulatory and Development Authority of India (IRDAI) dated 28.3.2024," LIC wrote on X. 

Press Release: Special Measures for extending services to Policy Holders of LIC of India#LIC pic.twitter.com/qH4oNVe7Gi

— LIC India Forever (@LICIndiaForever) March 28, 2024

Earlier, the RBI instructed all agency banks to keep their designated branches open for over-the-counter (OTC) transactions for official purposes up to the normal working hours on March 30 and March 31.

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Meanwhile, the IRDAI instructed insurers to keep their offices open as per normal working hours on both days, Saturday and Sunday, and give adequate publicity to the special arrangement made as such.

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March 31 is typically characterised by additional rush at financial institutions as the day marks the last day of a financial year, and thus holds a pivotal role in the financial world. March 31 often marks the deadline for meeting certain regulatory requirements, adding to the rush and significance of this date.

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