Clearing operations on March 29, 30 and 31, 2013

RBI/2012-13/454

DPSS.CO.CHD.No./1674/ 03.01.03/2012-2013

March 21, 2013

The Chairman and Managing Director / Chief Executive Officer

All Scheduled Commercial Banks including RRBs /

Urban Co-operative Banks / State Co-operative Banks /

District Central Co-operative Banks/Local Area Banks

Madam / Dear sir,

Clearing operations on March 29, 30 and 31, 2013

With a view to facilitate accounting of all the Government transactions for the current financial year (2012-2013) by March 31, 2013, it has been decided to conduct special clearing at all clearing houses across the country on March 29, 30 and 31, 2013 as detailed below:

2. 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.

3. In this regard, a reference is invited to the circular issued by our Department of Government and Bank Accounts (DGBA.GAD.No. H.5486/ 42.01.029 / 2012-13 dated March 21, 2013) on ‘Annual Closing of Government Accounts - Transactions of Central / State Governments - Special Measures for the Current Financial Year (2012-13).

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 March 29, 2013 and March 31, 2013. A separate broadcast message in this regard will be issued through the respective system.

Yours faithfully

(Vijay Chugh)

Chief General Manager