• Politics
  • Business
  • World
  • Science
  • Startup
  • Health
  • Travel
  • Economy
  • Top Story
Aryavarth News
  • Home
  • Politics
  • City News
  • Top Story
  • Editorial
Saturday, March 25, 2023
No Result
View All Result
Aryavarth News
No Result
View All Result

Banks to conduct special clearing of govt cheques on Mar 31

In a notification to all scheduled banks along with small finance banks and the National Payments Corporation of India, the central bank said that it is mandatory for all banks to participate in the special clearing operations on March 31, 2021.

Banks to conduct special clearing of govt cheques on Mar 31

Reserve Bank of India

279
VIEWS
Share on WhatsappShare on FacebookShare on TwitterShare on Telegram

Mumbai,(Aryavarth) The Reserve Bank of India (RBI) has said that banks will conduct special clearing operations exclusively for government cheques on March 31 to facilitate accounting of all the government transactions for the current financial year.

In a notification to all scheduled banks along with small finance banks and the National Payments Corporation of India, the central bank said that it is mandatory for all banks to participate in the special clearing operations on March 31, 2021.

RelatedPosts

RBI red flags concerns around big tech in financial services

UP: Fake currency found in RBI chest, FIR lodged

RBI extends restrictions on PMC Bank till Dec 31

It noted that normal clearing timings as applicable to any working Wednesday shall be followed on March 31.

“Further, to facilitate accounting of all the government transactions for the current financial year (2020-21) by March 31, 2021, it has been decided to conduct Special Clearing exclusively for Government Cheques across the three CTS (Cheque Truncation System) grids on March 31, 2021,” said the notification.

The RBI added that all the member banks under the respective CTS Grids 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.

Tags: RBI
SendShare26Tweet16Share

Related Posts

RBI red flags concerns around big tech in financial services

RBI red flags concerns around big tech in financial services

July 2, 2021
UP: Fake currency found in RBI chest, FIR lodged

UP: Fake currency found in RBI chest, FIR lodged

June 30, 2021
RBI extends restrictions on PMC Bank till Dec 31

RBI extends restrictions on PMC Bank till Dec 31

June 26, 2021

RBI’s big surplus transfer to Centre due to shrinking balance sheet size by fourth in 2020-21

Aryavarth News

Copyright © 2022 Aryavarth Publication Pvt Ltd.

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Contact

Follow Us

No Result
View All Result
  • Politics
  • Business
  • World
  • Science
  • Startup
  • Health
  • Travel
  • Economy
  • Top Story

Copyright © 2022 Aryavarth Publication Pvt Ltd.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.