GST Certification Course

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Special Clearing Operations on March 31, 2020

 Notice Date : 30 March 2020


March 30, 2020

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

Madam / Dear Sir,

Special Clearing Operations on March 31, 2020

A reference is invited to the circular issued by Department of Government and Bank Accounts (DGBA.GBD.No.1799/42.01.029/2019-20 dated March 27, 2020) on ‘Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2019-20)’.

2. Normal clearing timings as applicable to any working Tuesday shall be followed on March 31, 2020. Further, to facilitate accounting of all the Government transactions for the current financial year (2019-20) by March 31, 2020, it has been decided to conduct a Special Clearing exclusively for Government cheques at all clearing houses across the country on March 31, 2020 as detailed below:

Location Presentation Clearing Return Clearing
CTS grids (Chennai, Mumbai and New Delhi) Between 1700 and 1730 hours Between 1900 and 1930 hours
ECCS centres One hour after normal working hours keeping in view operational convenience at local centre Half an hour / one hour after presentation clearing keeping in view operational convenience at local centre

3. It is mandatory for all banks to participate in the Special Clearing on March 31, 2020. All member banks of clearing houses are required to keep their inward clearing processing infrastructure open during 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 of clearing houses are advised to adhere to instructions contained in this circular as well as instructions received from Regional Offices of Reserve Bank of India and President of respective clearing houses. In case of image-based clearing at CTS locations, the operating procedure for March 31, 2020 will be advised to all member banks by the President of the respective CTS location. 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.

5. Member banks are also advised to be in readiness to participate in RTGS on March 31, 2020. A separate broadcast message will be issued indicating the extended time window.

Yours faithfully

(P. Vasudevan)
Chief General Manager


on 31 March 2020
Notification No : RBI/2019-20/198 DPSS.CO.RPPD.No./1864/03.01.03/2019-20
Published in Others
Source : ,

Submit Notifications
caclubindia books caclubindia books Book