RBI/2016-17/255
DPSS.CO.CHD.No./2656/03.01.03/2016-17
March
23, 2017
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
Madam / Dear Sir,
Special Clearing operations on
March 30 and 31, 2017
A reference is invited to the
circular issued by our Department of Government and Bank Accounts (DGBA.GAD.No.2377/42.01.029/2016-17
dated March 16, 2017) on ‘Annual Closing of Government Accounts -
Transactions of Central / State Governments - Special Measures for the
Current Financial Year (2016-17)’.
2. With a view to facilitate
accounting of all the Government transactions for the current financial
year (2016-17) by March 31, 2017, it has been decided to conduct special
clearing at all clearing houses across the country on March 30 and 31, 2017 as detailed below:
Date
|
Type
of clearing
|
Presentation
clearing
|
Return
clearing
|
March 30, 2017 (Thursday)
|
Normal Clearing as followed on
any working Thursday
|
In addition, a Special
Clearing exclusively for Government transactions (receipts and payments)
with return clearing on the same day as per the schedule indicated below.
|
March 31, 2017 (Friday)
|
Normal Clearing as followed on
any working Friday
|
In addition, a Special
Clearing exclusively for Government transactions (receipts and payments)
with return clearing on the same day as per the schedule indicated below.
|
Schedule for various types of
clearing
a. CTS grid locations (Chennai,
Mumbai and New Delhi)
Special
Presentation clearing on March 30 & 31, 2017***
|
P2F
session timings for the instruments presented through the Special
Clearing
|
Return
clearing for the instruments presented through the special clearing
|
Between 20.00 and 20.30 hours
|
Between 21.00 and 21.30 hours
|
Between 22.00 and 22.15 hours
|
*** 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
Presentation
clearing
|
Return
clearing
|
One hour after the extended
business hours keeping in view the operational convenience at the local
center
|
Half an hour/One hour after
the presentation clearing keeping in view the operational convenience at
the local center.
|
3. It is mandatory for all banks
to participate in the special clearing operations on these two days. 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. However,
participation in the outward clearing is left to banks depending upon the
instruments received by them towards credit-to/payment-from Government
accounts.
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. In case of
image-based clearing at CTS locations, separate operating procedure will be
decided for these two days and advised to all member banks by the President
of the respective CTS location and in this regard member banks may be guided
by the circular issued by NPCI to all member banks and President of the
three grids vide their circular NPCI/2016-17/CTS/Circular No. 32 dated
October 3, 2016.
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, 2017). A separate broadcast message
in this regard will be issued through the respective system indicating the
extended time window.
Yours faithfully
(Nanda S. Dave)
Chief General Manager-in-Charge
|