RBI has announced Cheque Clearing Timings for Government Transactions on 31 March 2025, Check Here
The Reserve Bank of India (RBI) has announced Special Clearing Operations under the Cheque Truncation System (CTS) on March 31, 2025, to facilitate the annual closing of government accounts.
In a circular (RBI/2024-25/134) issued to all scheduled commercial banks, regional rural banks, cooperative banks, payment banks, small finance banks, and the National Payments Corporation of India (NPCI), the RBI has mandated participation in these special clearing operations to ensure smooth settlement of government transactions for the financial year 2024-25.
Special Clearing Timings
On March 31, 2025, banks must follow the normal Monday clearing schedule. Additionally, a special clearing session for government cheques will take place as per the following schedule:
| Date | Presentation Session | Return Session |
|---|---|---|
| March 31, 2025 (Monday) | 17:00 – 17:30 Hours | 19:00 – 19:30 Hours |
Mandatory Participation for Banks
The RBI has made it compulsory for all banks to participate in this special clearing session. Member banks of CTS must:
- Keep their inward clearing processing systems operational during the special clearing hours.
- Ensure sufficient balance in their clearing settlement accounts to meet settlement obligations.
Compliance Guidelines
Banks must comply with the instructions issued in this circular and follow directives from the President of the National Grid Clearing House. Additionally, banks are advised to refer to NPCI Circular No. 32 (dated October 3, 2016) regarding clearing procedures for special sessions.
This special clearing operation aims to ensure the timely accounting and settlement of government transactions before the financial year closes on March 31, 2025.
