Home › Circulars › RBI/2011-12/462

Special Clearing on March 31, 2012 for Govt Transactions

Current · Source: Reserve Bank of India · RBI/2011-12/462 · issued 20 Mar 2012 · ~1 min read
Quick answerRBI directs banks to conduct special evening/night clearings on March 31, 2012, to ensure all government revenue instruments are realized and credited to government accounts before the financial year closes.
The rule, in the simplest words
How it plays out — a real example

As the payments & clearing officer in Indore, Rohan ensured that all government-related cheques and instruments were processed on March 31 evening/night. He coordinated with the local clearing house to align timings and operational arrangements for the evening/night clearing. This ensured that government accounts reflected all receipts for the financial year, avoiding reconciliation issues.

What changed

RBI instructed National Clearing Cells to organize special clearings with same-day return on March 31, 2012. Clearing houses under their jurisdiction must also conduct these clearings to facilitate government revenue realization by year-end.

What it means for you

Banks must process government-related cheques and instruments on March 31 evening/night to meet fiscal year closing deadlines. This ensures government accounts reflect all receipts for 2011-12, avoiding reconciliation issues. Banks need to coordinate with local clearing houses for operational convenience.

What you must do

Who it affects

All Scheduled Commercial Banks including RRBs, Urban Co-operative Banks, State Co-operative Banks, District Central Co-operative Banks, Clearing Houses and National Clearing Cells

❓ Common questions

Why is a special clearing needed on March 31, 2012?

To ensure all government revenue instruments received from the public are realized and credited to government accounts before the close of the financial year 2011-12.

What should member banks do to comply?

Implement instructions from National Clearing Cells or local clearing houses, and ensure participation in the special clearing with same-day return on March 31 evening/night.

📜 Read the original circular — full text as issued by RBI
RBI/2011-12/462 DPSS.CO.CHD.No./1732/03.01.03/2011-2012 March 20, 2012 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / UCBs / State Co-operative Banks / District Central Co-operative Banks Madam / Dear sir, Special Clearing on March 31, 2012 With a view to facilitating accounting of all the Government transactions of the current financial year (2011-12) by March 31, 2012, the National Clearing Cells functioning under the Regional Offices of Reserve Bank of India have been advised to conduct "Special Clearings" with same day return clearing in the evening / night of March 31, 2012. They have also been advised to ensure that the Clearing Houses under their jurisdiction conduct these clearings, keeping in view the operational convenience at the local centres, so that instruments relating to Government revenue received from members of the public are realised and the proceeds are credited to Government account by March 31, 2012. 2. In this regard, a reference is invited to the circular issued by our Department of Government and Bank Accounts (vide, DGBA.GAD.No. H.457/42.01.029 / 2011-12 dated March 19, 2012 ) on ‘Annual Closing of Government Accounts - Transactions of Central / State Governments - Special Measures for the Current Financial Year (2011-12)’. 3. Member banks of Clearing Houses are advised to implement the instructions received by them from the National Clearing Cells / Clearing Houses. Yours faithfully (Vijay Chugh) Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2011-12/462 · issued 20 Mar 2012. The plain-English explanation above is BankPulse’s own independent summary.
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Who does what — compliance checklist
🏦 Branch Manager
  • Instruct branch staff to prioritize government revenue instruments for same-day realization and credit to government accounts.
⚙️ Operations
  • Ensure your bank participates in the special clearing on March 31, 2012, as advised by National Clearing Cells.
  • Coordinate with local clearing houses to align timings and operational arrangements for the evening/night clearing.
📜 Compliance
  • Refer to DGBA circular dated March 19, 2012, for additional measures on annual closing of government accounts.
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 Operations officer at a bank this circular applies to (All Scheduled Commercial Banks including RRBs, Urban Co-operative Banks, State Co-operative Banks, District Central Co-operative Banks, Clearing Houses and National Clearing Cells), your first concrete step on “Special Clearing on March 31, 2012 for Govt Transactions” is: “Ensure your bank participates in the special clearing on March 31, 2012, as advised by National Clearing Cells.” (RBI issued this 20 Mar 2012).

  1. Circular: RBI/2011-12/462 -- Special Clearing on March 31, 2012 for Govt Transactions
  2. Issued: 20 Mar 2012
  3. Action required: Ensure your bank participates in the special clearing on March 31, 2012, as advised by National Clearing Cells.
  4. Action required: Coordinate with local clearing houses to align timings and operational arrangements for the evening/night clearing.
  5. Action required: Instruct branch staff to prioritize government revenue instruments for same-day realization and credit to government accounts.
  6. Action required: Refer to DGBA circular dated March 19, 2012, for additional measures on annual closing of government accounts.
  7. Owner: ____________ Target date: ____________
  8. Board/committee approval needed? Y / N
  9. 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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Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=7082&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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