|
RBI/2017-18/145
DPSS.CO.CHD.No./2707/03.01.03/2017-18
March
28, 2018
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 31, 2018
A reference is invited to the
circular issued by our Department of Government and Bank Accounts (DGBA.GBD.No.2388/42.01.029/2017-18 dated March 27, 2018)
on ‘Annual Closing of Government Accounts - Transactions of Central/State
Governments - Special Measures for the Current Financial Year (2017-18)’.
2. With a view to facilitate
accounting of all the Government transactions for the current financial
year (2017-18) by March
31, 2018, it has been decided to conduct
special clearing at all clearing houses across the country on March 31,
2018 as detailed below:
|
Date
|
Type
of clearing – Presentation clearing /Return clearing
|
|
March 31, 2018 (Saturday)
|
Normal Clearing as followed on
any working Saturday
|
|
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 (New
Delhi, Mumbai and Chennai)
|
Special
Presentation clearing on March 31 2018***
|
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 shall be conducted for both CTS-2010 and
non-CTS-2010 standard instruments together. No segregation is required.
|
b. Special clearing in non-MICR
(ECCS) clearing houses on March 31, 2018
|
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 the above specified
date. All member banks of the Clearing Houses 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 President of respective Clearing Houses. In case of image-based
clearing at CTS locations, separate operating procedure will be decided for
March 31, 2018 and 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 the Centralised Payment Systems (RTGS
and NEFT) on March 31, 2018. 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
|
