Supreme Court: Single Insolvency Petition Maintainable Against Linked Corporate Entities  ||  Supreme Court: Disputes are Not Arbitrable When the Arbitration Agreement is Alleged to be Forged  ||  Supreme Court: Temple Trust Does Not Qualify as an ‘Industry’ under the Industrial Disputes Act  ||  Delhi HC: Unmarried Granddaughter’s Limited Estate Can Become Absolute if Pre-Existing Right  ||  MP High Court: Labour Laws are Beneficial, and Hyper-Technical Limitation Views Must be Avoided  ||  Calcutta HC: Supplementary Chargesheet Filed Late in NDPS Trial is Valid if Based on Fresh Evidence  ||  Delhi High Court: Co-Accused’s Abscondence Can Be a Relevant Factor in Granting NDPS Bail  ||  P &H HC: Unfavourable Orders Cannot Justify Trial Transfer; Courts Must Prevent Forum Hunting  ||  SC: UGC Regulations Override State Law on Forming Search Committees For University VC Appointments  ||  SC: State Cannot Deny Regularisation to Long-Serving Contract Staff Appointed Through Due Process    

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