Annual Closing of Government Accounts - Transactions of Central / State Governments - Special Measures for the Current Financial Year- (Reserve Bank of India) (16 Mar 2017)

MANU/RMIC/0020/2017

Banking

The Government of India has desired that all government transactions with banks must be accounted for within the same financial year and has requested that certain special arrangements be made for the purpose, as in previous years. Accordingly, all agency banks should keep the counters of their designated branches conducting government business open for government transactions up to 6.00 p.m. on March 30, 2017 and up to 8.00 p.m. on March 31, 2017. All electronic transactions would, however, continue till midnight on March 31, 2017. Banks may give adequate publicity to the special arrangements made. As regards conduct of extended clearing sessions / operations on these two dates, separate guidelines are being issued by our Department of Payment and Settlement Systems, Central Office, Mumbai.

Tags : TRANSACTION ACCOUNTS CLOSING