RBI announces Special Clearing Operations on 31st March 2022 for closure of Government Accounts



Quick Summary
The Reserve Bank of India (RBI) has announced special clearing operations for government accounts on Thursday, March 31, 2022. This is to ensure all central and state government transactions for the financial year 2021-22 are accounted for by the deadline. Normal clearing timings will apply, with an additional special clearing session exclusively for government cheques across the three CTS grids (New Delhi, Chennai, and Mumbai) from 5:00 PM to 5:30 PM for presentation and 7:00 PM to 7:30 PM for returns.

Special Clearing operations on March 31, 2022

RBI/2021-2022/188
CO.DPSS.RPPD.No./S1769/03-01-002/2021-22

March 28, 2022

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 31, 2022

A reference is invited to the circular issued by Department of Government and Bank Accounts (DGBA) vide CO.DGBA.GBD.No.S1595/42-01-029/2021-2022 dated March 24, 2022 addressed to all the agency banks on Annual Closing of Government Accounts –Transactions of Central / State Governments – Special Measures for the Current Financial Year (2021-22).

2. Normal clearing timings as applicable to any working “Thursday” shall be followed on March 31, 2022. Further, to facilitate accounting of all the Government transactions for the current financial year (2021-22) by March 31, 2022, it has been decided to conduct Special Clearing exclusively for Government Cheques across the three CTS grids on March 31, 2022 as detailed below:

RBI Special Clearing on March 31 for Govt Accounts
Location Presentation Clearing Return Clearing
CTS Grids (New Delhi, Chennai and Mumbai) Between 17:00 and 17:30 Hours Between 19:00 and 19:30 Hours

3. It is mandatory for all banks to participate in the special clearing operations on March 31, 2022. All the member banks under the respective CTS Grids are 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 under the respective CTS Grids are advised to adhere to the instructions contained in this circular as well as instructions issued by the President of the respective CTS grids. Member banks may also be guided by the circular NPCI/2016-17/CTS/Circular No.32 dated October 3, 2016 issued by NPCI to all member banks regarding clearing type for instruments to be presented in Special Clearing sessions.

Yours faithfully,

(P Vasudevan)
Chief General Manager

FAQ :

The special clearing operations will be held on Thursday, March 31, 2022.

They are being conducted to facilitate the accounting of all government transactions for the financial year 2021-22 by the March 31 deadline.

Normal clearing timings will be followed. Additionally, a special clearing for government cheques will run from 5:00 PM to 5:30 PM for presentation and 7:00 PM to 7:30 PM for returns across the three CTS grids.

Yes, it is mandatory for all scheduled commercial banks, co-operative banks, and other specified financial institutions to participate in these special clearing operations.

Member banks must keep their inward clearing processing infrastructure open during the special clearing hours and maintain sufficient balances in their clearing settlement accounts.




News posted by

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

Comments :


More »

Popular News





CCI Pro



Company
Featured 12 September 2026
Assistant Manager - Finance & Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details