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E-payment Remittance Period for Govt Transactions Tightened

Current · Source: Reserve Bank of India · RBI/2008-09/97 · issued 18 Jul 2008 · ~1 min read

Quick answerFrom August 1, 2008, PSBs must remit all government e-payments (EASIEST, OLTAS) within T+2 working days, reducing to T+1 from January 1, 2009. This tightens earlier timelines to speed up government revenue flows.

The rule, in the simplest words

Public Sector Banks must remit government e-payments within T+2 working days from August 1, 2008, and T+1 from January 1, 2009.
Banks must exclude the put-through date when calculating the remittance period.
Banks must update their internal systems and train staff to meet the new remittance deadlines.

How it plays out — a real example

Ramesh, a forex & trade-finance officer in Indore, ensures that all government e-payments received through EASIEST and OLTAS are remitted within the new timelines. He updates the bank's internal systems and trains his staff to meet the T+2 working day deadline from August 1, 2008, and the T+1 working day deadline from January 1, 2009. This helps the bank to speed up government revenue flows and avoid potential penalties for non-compliance.

What changed

RBI, based on the Standing Committee's April 15, 2008 meeting and in consultation with the Controller General of Accounts, revised the remittance period for all government transactions received via e-payments by Public Sector Banks. The new timeline is T+2 working days (excluding put through date) effective August 1, 2008, and will further tighten to T+1 working day from January 1, 2009.

What it means for you

Banks must accelerate their internal processes for remitting government receipts collected through e-payment channels like EASIEST and OLTAS. This reduces float time and demands faster reconciliation and fund transfer to government accounts, impacting cash management and operational workflows.

What you must do

Update internal systems and cut-off timings to ensure e-payment remittances meet T+2 from August 1, 2008, and T+1 from January 1, 2009.
Train branch and treasury staff on the new remittance deadlines and the exclusion of the put-through date.
Monitor daily remittance batches to avoid delays and potential penalties for non-compliance.
Coordinate with IT teams to adjust automated remittance schedules for EASIEST and OLTAS transactions.

Who it affects

State Bank of India and its associates, All nationalised banks, Jammu & Kashmir Bank Ltd., Treasury and remittance departments of PSBs, Government accounts teams

❓ Common questions

Regulatory timeline

Stated effective date effective August 1, 2008
Decoded by BankPulse 2026-06-19 13:04 IST

Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).

What does T+2 working days mean here?

It means the remittance must be completed within two working days after the transaction date, not counting the day the payment was put through.

Which transactions are covered under this circular?

All government transactions received through e-payments, including those via EASIEST and OLTAS systems, by Public Sector Banks.

When does the T+1 requirement take effect?

The tighter T+1 working day timeline becomes effective from January 1, 2009.

📜 Read the original circular — full text as issued by RBI

RBI/2008-09/97 

 DGBA.GAD.No.H 549 / 42.01.011 /2008-09

 July 18, 2008

 The Chairman & Managing Director/Managing Director

 State Bank of India and its Associates/ 

 All Nationalised Banks

 Jammu &Kashmir Bank Ltd.

 Dear Sir,

 Permissible Period of Remittance of  E-payment of Government Transactions 

 Please refer to our circular No.RBI/2007/235 (DGBA.GAD.No.H.11763/42.01.011/2006-07) January 24, 2007 relating to delay in remittance of Government Receipts.  

 2. In this connection, we advise that on the basis of the recommendations made by the Standing Committee in its meeting held on April 15, 2008, it has been decided in consultation with the Controller General of Accounts that the remittance period of all Government transactions including EASIEST and OLTAS received through e-payments by Public Sector Banks will be T+2 working days (excluding put through date) w.e.f. August 1, 2008 and T+1 working day (excluding put through date) w.e.f. January 1, 2009. You may, therefore, arrange to remit the Government revenue accordingly. 

 Yours faithfully,

 (P.M.Rajagopal)

 Assistant General Manager

Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2008-09/97 · issued 18 Jul 2008. The plain-English explanation above is BankPulse’s own independent summary.

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Who does what — compliance checklist

🏦 Branch Manager

Train branch and treasury staff on the new remittance deadlines and the exclusion of the put-through date.

💻 IT / Systems

Update internal systems and cut-off timings to ensure e-payment remittances meet T+2 from August 1, 2008, and T+1 from January 1, 2009.
Coordinate with IT teams to adjust automated remittance schedules for EASIEST and OLTAS transactions.

📜 Compliance

Monitor daily remittance batches to avoid delays and potential penalties for non-compliance.

Grouped from the action items above — a single circular may involve more than one team.

Worked example & action-note template

Example: if you are an IT/Systems lead at a bank this circular applies to (State Bank of India and its associates, All nationalised banks, Jammu & Kashmir Bank Ltd., Treasury and remittance departments of PSBs, Government accounts teams), your first concrete step on “E-payment Remittance Period for Govt Transactions Tightened” is: “Update internal systems and cut-off timings to ensure e-payment remittances meet T+2 from August 1, 2008, and T+1 from January 1, 2009.” (RBI issued this 18 Jul 2008).

Circular: RBI/2008-09/97 -- E-payment Remittance Period for Govt Transactions Tightened
Issued: 18 Jul 2008
Action required: Update internal systems and cut-off timings to ensure e-payment remittances meet T+2 from August 1, 2008, and T+1 from January 1, 2009.
Action required: Train branch and treasury staff on the new remittance deadlines and the exclusion of the put-through date.
Action required: Monitor daily remittance batches to avoid delays and potential penalties for non-compliance.
Action required: Coordinate with IT teams to adjust automated remittance schedules for EASIEST and OLTAS transactions.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________

Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.

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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=4376&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.