Supreme Court: After the BNSS, a Pre-Cognizance Hearing is Mandatory in PMLA Cases  ||  SC: Landowners Cannot be Forced to Waive Statutory Compensation to Claim Other Benefits  ||  Supreme Court: Banks are Lenient With Big Borrowers But Strict With Ordinary Loan Applicants  ||  Delhi HC: Minimum Wages During Pending Litigation Cannot be Frozen and Must be Updated Periodically  ||  Kerala HC: ICC Can Probe Sexual Harassment Complaint Against a Director Not Controlling Affairs  ||  Delhi HC: Interim Protection From Blacklisting Does Not Remove Bidder’s Duty to Disclose in Tenders  ||  Allahabad HC: After the BNSS, Pre-Cognizance Hearing of the Accused is Mandatory in NDPS Complaints  ||  Delhi HC: Husband Cannot Avoid Maintenance For Wife and Children by Claiming Irregular Income  ||  SC: Repeated Anticipatory Bail Pleas Abuse Process and Reduce Litigation to a Gamble  ||  Supreme Court: State Officers Cannot Back Litigants Through Affidavits Against the Law    

Reporting of Transactions by agency banks to RBI- (Reserve Bank of India) (30 Nov 2017)

MANU/RMIC/0158/2017

Banking

It has been brought to our notice that some agency banks are reporting government transactions after considerable delay and along with the current transactions to RBI, without taking necessary authorisation from the concerned government departments.

2. As per the extant instructions, state government transactions (electronic as well as in physical mode) of previous month reported after 8th of the succeeding month and those pertaining to earlier months should be reported to RBI through a separate statement for accounting, after being confirmed by the competent authorities of concerned state government.

3. It has now been decided that, for Central Government transactions (electronic as well as in physical mode), if the transactions or any adjustments thereof are reported after a gap of 90 days from the date of transaction, agency banks have to obtain prior approval from concerned ministry/department and submit the same to RBI separately at the time of reporting such transactions for settlement.

4. It may be noted that all instructions related to the timeline to be adhered to, for reporting of government transactions, remain unchanged.

Tags : RBI   AGENCY BANKS   TRANSACTIONS  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved