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

Status of March 31, 2024, for Government transactions through integration with e-Kuber

03-Oct-2023 | RBI/2023-24/65 CO.DGBA.GBD.No.S646/42-01-029/2023-2024

Reserve Bank of India (RBI) has issued a Notification regarding the status of March 31, 2024, for government transactions facilitated through the e-Kuber platform. The key highlights: 1. The e-Kuber platform, RBI's Core Banking Solution for government and other payments, typically does not process government transactions on specific global holidays. 2. Since March 31, 2024, coincides with a Sunday, the Controller General of Accounts, Government of India, has recommended that it be treated as a working day for government transactions through e-Kuber. 3. This decision aims to ensure that all government transactions integrated with e-Kuber are processed on March 31, 2024, to account for them in the financial year 2023-24, thereby accurately reflecting the cash balance of the Government of India as of March 31, 2024. 4. Additionally, e-Kuber will accept luggage files from banks on March 31, 2024, facilitating the transfer of data related to government transactions to RBI for accounting purposes in the financial year 2023-24.

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