RBI/2008-09/97
DGBA.GAD.No.H 549 / 42.01.011 /2008-09

July 18, 2008

The Chairman & Managing Director/Managing Director
State Bank of India and its Associates/
All Nationalised Banks
Jammu &Kashmir Bank Ltd.

Dear Sir,

Permissible Period of Remittance of  E-payment of Government Transactions

Please refer to our circular No.RBI/2007/235 (DGBA.GAD.No.H.11763/42.01.011/2006-07) January 24, 2007 relating to delay in remittance of Government Receipts. 

2. In this connection, we advise that on the basis of the recommendations made by the Standing Committee in its meeting held on April 15, 2008, it has been decided in consultation with the Controller General of Accounts that the remittance period of all Government transactions including EASIEST and OLTAS received through e-payments by Public Sector Banks will be T+2 working days (excluding put through date) w.e.f. August 1, 2008 and T+1 working day (excluding put through date) w.e.f. January 1, 2009. You may, therefore, arrange to remit the Government revenue accordingly.

Yours faithfully,

(P.M.Rajagopal)
Assistant General Manager