Special Clearing by banks on March 30th and 31st, 2011

RBI/2010-11/445
DPSS.CO.CHD.No. 2191/ 03.01.03 / 2010-2011

March 24, 2011

The Chairman and Managing Director / Chief Executive Officer
All Scheduled Commercial Banks including RRBs / UCBs /
State Co-operative Banks / District Central Co-operative Banks

Madam / Dear sir,


Special Clearing on March 30th and 31st, 2011

With a view to facilitating accounting of all the Government transactions of the current financial year (2010-11) by March 31, 2011, the National Clearing Cells functioning under the Regional Offices of Reserve Bank of India have been advised to conduct "Special Clearings" with same day return clearing in the evening / night of March 30 and 31, 2011. They have also been advised to ensure that the Clearing Houses under their jurisdiction conduct these clearings, keeping in view the operational convenience at the local centres, so that instruments relating to Government revenue received from members of the public are realised and the proceeds are credited to Government account by March 31, 2011.

2. In this regard, a reference is invited to the circular issued by our Department of Government and Bank Accounts (vide, DGBA.GAD.No. H.6589/42.01.029 / 2010-11 dated March 23, 2011) on ‘Annual Closing of Government Accounts - Transactions of Central / State Governments - Special Measures for the Current Financial Year (2010-11)’.

3. Member banks of Clearing Houses are advised to implement the instructions received by them from the National Clearing Cells / Clearing Houses.