March 2006 Residual Transactions: Extended Closure Date
No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2005-06/359 · issued 12 Apr 2006 · ~1 min read
Quick answerRBI extended the closure date for residual March 2006 transactions under the government dues collection scheme from April 15 to April 22, 2006. Agency banks must update branch instructions immediately.
What changed
The closure date for residual March 2006 transactions under the scheme for collecting dues of CBDT, CBEC, and departmentalised ministries was extended by one week. The new deadline is April 22, 2006, instead of the earlier April 15, 2006.
What it means for you
Agency banks get additional time to process and account for leftover March transactions related to direct taxes, excise/customs, and departmental receipts. This reduces year-end reconciliation pressure but requires swift communication to all branches to avoid missed deadlines.
Historical instruction — do not use for current compliance. This is what was required at the time; it no longer reflects current RBI requirements. If no replacement rule is linked above, that only means none is recorded on our register yet — it does not prove no later applicable rule exists. Confirm on the official RBI source below.
What banks were required to do at the time
Notify all branches immediately about the revised closure date of April 22, 2006.
Ensure residual March 2006 transactions are processed and reported by the new deadline.
Update internal systems and circulars to reflect the extended timeline for government dues collection.
Who it affects
All agency banks handling government tax and duty collections, Branch operations teams processing March 2006 residual transactions, Reconciliation and accounting departments
❓ Common questions
Regulatory timeline
Decoded by BankPulse2026-06-19 18:41 IST
Status change: withdrawn10 Jul 2026, 04:03 IST
Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).
Why was the closure date extended?
RBI decided in consultation with the Government of India to extend the date from April 15 to April 22, 2006, to provide more time for processing residual March transactions.
Which transactions does this extension cover?
It covers residual March 2006 transactions under the scheme for collecting dues of the Central Board of Direct Taxes, Central Board of Excise and Customs, and departmentalised ministries.
What should banks do immediately?
Issue necessary instructions to all concerned branches at once to ensure compliance with the new closure date of April 22, 2006.
📜 Read the original circular — full text as issued by RBI
RBI/2005-06/359
DGBA.GAD.No.H15769/42.01.001/2005-06
April 12, 2006
The Chief Executive Officers
All Agency Banks
Dear Sir,
Scheme for Collection of Dues of (i) Central Board of Direct Taxes ( ii ) Central Board of Excise and Customs (iii) Departmentalised Ministries Account -
Reporting and Accounting of March Transactions - Special Arrangements - Financial Year 2005-2006
Please refer to our Circular DGBA.GAD.No.H-11835/42.01.001/2004-05 dated February 14, 2006 on the above subject. It has since been decided in consultation with Government of India that the date of closure of residual transactions for the month of March 2006 be fixed as April 22, 2006 instead of April 15, 2006.
2. Please issue necessary instructions in the matter to your branches concerned immediately.
Yours sincerely
(M.T. Varghese)
General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2005-06/359 · issued 12 Apr 2006. The plain-English explanation above is BankPulse’s own independent summary.
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BankPulse Compliance Evidence Pack — generated 05 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=2825&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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