Clearing operations on March 29, 30 and 31, 2014 - આરબીઆઈ - Reserve Bank of India
Clearing operations on March 29, 30 and 31, 2014
RBI/2013-14/536 March 26, 2014 The Chairman and Managing Director / Chief Executive Officer Madam / Dear Sir, Clearing operations on March 29, 30 and 31, 2014 A reference is invited to the circular issued by our Department of Government and Bank Accounts (DGBA.GAD.No.H.5430/ 42.01.029/2013-14 dated March 26, 2014) on ‘Annual Closing of Government Accounts - Transactions of Central / State Governments - Special Measures for the Current Financial Year (2013-14)’. 2. With a view to facilitate accounting of all the Government transactions for the current financial year (2013-2014) by March 31, 2014, it has been decided to conduct special clearing at all clearing houses across the country on March 29, 30 and 31, 2014 as detailed below:
3. Agency banks doing Government business alone will be permitted to present instruments in the Special Clearing on other participating banks. Other member banks of the Clearing House (including the presenting banks) 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. Operating Procedure for tendering instruments through the three CTS grid Centers will be issued separately by the Presidents of the concerned Grid center. 5. Member banks of Clearing Houses are advised to adhere to the instructions contained in this circular as well as the instructions received from the Regional offices of Reserve Bank of India and Presidents of respective Clearing Houses. 6. Member banks are also advised to be in readiness to participate in the Centralised Payment Systems (RTGS and NEFT) on these days (March 29-31, 2014). A separate broadcast message in this regard will be issued through the respective system indicating the extended time window. Yours faithfully (Vijay Chugh) |