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RBI/2014-15/517 DPSS.CO.CHD.No./1776/03.01.02/2014-2015 The Chairman and Managing Director / Chief All Scheduled Commercial Banks including District Central Co-operative Banks/Local
Madam / Dear Sir, Special Clearing operations on March 30 and 31, 2015 |
March 26, 2015 |
A reference
is invited to the circular issued by our Department of Government and Bank
Accounts (DGBA.GAD.No.4318/42.01.029/2014-15 dated March 25, 2015) on ‘Annual Closing of Government
Accounts – Transactions of Central / State Governments – Special Measures for
the Current Financial Year (2014-15)’.
2. With a view
to facilitate accounting of all the Government transactions for the current
financial year (2014-2015)
by March 31, 2015, it has been decided to conduct special clearing at all clearing houses across the country on March 30 and 31, 2015 as
detailed below:
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Date |
Type of clearing |
Presentation |
Return clearing |
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March 30, 2015 (Monday) |
Normal Clearing as followed on any working |
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In addition, a Special Clearing exclusively |
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March 31, 2015 (Tuesday) |
Normal Clearing as followed on any working |
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In addition, a Special Clearing exclusively |
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Schedule for
various types of clearing
a. CTS grid
locations (Chennai, Mumbai and New Delhi)
|
Special |
P2F session timings for the instruments presented through the Special Clearing |
Return clearing for the instruments presented through the special |
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Between 20.00 and 20.30 hours |
Between 21.00 and 21.30 hours |
Between |
*** Under the special clearing, single session will be run for both
CTS-2010 and non-CTS-2010 standard instruments together. No segregation
is required.
b. Special clearing in non-MICR/ECCS
clearing houses
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Presentation clearing
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Return clearing
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One hour after the extended
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Half an hour/ One hour after
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3. Participation in the outward clearing is
the choice left to banks depends upon the instruments received by them towards
credit-to/payment-from Government accounts. However, all member banks of the
Clearing House 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 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.
5. Member banks are also advised to be in
readiness to participate in the Centralised Payment Systems (RTGS and NEFT) on
these days (March 30-31, 2015). A separate broadcast message in this regard
will be issued through the respective system indicating the extended time
window.
Yours faithfully
(Charulatha S Kar)
General
Manager (OIC)
