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Corporate Laws Central Ministry of Finance Reserve Bank of India Act, 1934

Annual Closing of Government Accounts -Transactions of Central / State Governments - Special Measures for the Current Financial Year (2023-24)

22-Mar-2024 | RBI/2023-2024/138 CO.DGBA.GBD.No.S1252/42-01-029/2023-2024

Reserve Bank of India has issued a notification on Annual Closing of Government Accounts ? Transactions of Central / State Governments ? Special Measures for the Current Financial Year (2023-24).

By virtue of this notification :-

1. All Agency banks should keep their designated branches open for over the counter transactions related to government transactions upto the normal working hours on March 30 and March 31, 2024.
2. Transactions through National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) System will continue upto 2400 hours as hitherto on March 31, 2024.
3. Special clearing will be conducted for Government cheques both on March 30 & 31, 2024. Agency Banks are hereby advised that all cheques related to Government accounts may be presented on such clearing. The timing for presentation and return clearing of instruments for these special clearing sessions for government cheques will be intimated in due course.
4. Regarding reporting of Central and State Government transactions to RBI, including uploading of GST/ TIN 2.0/ ICEGATE/ e-receipts luggage files, the reporting window of March 31, 2024 will be kept open till 1200 hours noon on April 1, 2024.
5. Agency banks may take note and give adequate publicity to the special arrangements made as above.

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