RBI/2023-24/141
CO.DPSS.RPPD.No.S1193/03-01-002/2023-2024

March 27, 2024

The Chairman and Managing Director / Chief Executive Officer
All Scheduled Commercial Banks including Regional Rural Banks /
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks / Local Area Banks / Payment Banks /
Small Finance Banks / National Payments Corporation of India

Madam / Dear Sir,

Special Clearing Operations on March 30 & 31, 2024

A reference is invited to the circular issued by Department of Government and Bank Accounts (DGBA) vide CO.DGBA.GBD.No.S1252/42-01-029/2023-2024 dated March 22, 2024 addressed to all the agency banks on Annual Closing of Government Accounts –Transactions of Central/State Governments – Special Measures for the Current Financial Year (2023-24).

2. Normal clearing timings under Cheque Truncation System (CTS) as applicable to any working “Saturday” shall be followed on March 30, 2024. Further, to facilitate accounting of all the Government transactions for the current financial year (2023-24) by March 31, 2024, it has been decided to conduct Special Clearing under CTS exclusively for Government Cheques on March 30 & 31, 2024 as detailed below:

3. It is mandatory for all banks to participate in the special clearing operations on March 30 & 31, 2024. All the member banks of CTS are also required to keep their inward clearing processing infrastructure open during the Special Clearing hours and maintain sufficient balance in their clearing settlement account to meet settlement obligations arising out of the Special Clearing.

4. Member banks are advised to adhere to the instructions contained in this circular as well as instructions issued by the President of the National Grid Clearing House. Member banks may also be guided by the circular NPCI/2016-17/CTS/Circular No.32 dated October 3, 2016 issued by NPCI regarding clearing type for instruments to be presented in Special Clearing sessions.

Yours faithfully,

(Sudhanshu Prasad)
Chief General Manager