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Special Clearing Operations for FY 2012-13 Closing

Current · Source: Reserve Bank of India · RBI/2012-13/454 · issued 21 Mar 2013 · ~2 min read
Quick answerRBI mandates special clearing on March 29-31, 2013, to settle government transactions before FY close. Agency banks can present instruments; all member banks must keep processing open and maintain settlement balances.
The rule, in the simplest words
How it plays out — a real example

An agency-banking (government business) officer in Indore checks the special clearing schedule for March 29-31, 2013. She makes sure her bank's computer system stays open late on March 30 to process government credits, and she reminds the cash team to keep enough funds in the settlement account so the bank can pay other banks for any checks it receives during these special sessions.

What changed

RBI directed special clearing sessions on March 29, 30, and 31, 2013, at all clearing houses. On March 29, locations with a holiday under the Negotiable Instruments Act get special clearing with same-day return; working days follow normal operations. March 30 includes normal Saturday clearing plus a special session for government credits. March 31 has a special clearing only for government credits.

What it means for you

Banks must ensure their clearing infrastructure is operational during extended hours on these dates, especially for government transactions. Agency banks handling government business can present instruments on other banks, while all member banks must maintain sufficient settlement account balances to cover obligations from special clearings.

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, Local area banks, Agency banks doing government business

❓ Common questions

What is the purpose of the special clearing on March 29-31, 2013?

To facilitate accounting of all government transactions for the financial year 2012-13 by March 31, 2013.

Which banks can present instruments in the special clearing?

Only agency banks that handle government business are permitted to present instruments in the special clearing on other participating banks.

What are the obligations for non-presenting member banks during special clearing?

They must keep their inward clearing processing infrastructure open during the special clearing hours and maintain sufficient balance in their clearing settlement account to meet settlement obligations.

📜 Read the original circular — full text as issued by RBI
RBI/2012-13/454 DPSS.CO.CHD.No./1674/ 03.01.03/2012-2013 March 21, 2013 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/Local Area Banks Madam / Dear sir, Clearing operations on March 29, 30 and 31, 2013 With a view to facilitate accounting of all the Government transactions for the current financial year (2012-2013) by March 31, 2013, it has been decided to conduct special clearing at all clearing houses across the country on March 29, 30 and 31, 2013 as detailed below: Date
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/454 · issued 21 Mar 2013. The plain-English explanation above is BankPulse’s own independent summary.
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Who does what — compliance checklist
⚙️ Operations
  • Keep inward clearing processing infrastructure open during special clearing hours on March 29-31.
  • Maintain adequate balance in clearing settlement accounts to meet obligations from special clearings.
  • Coordinate with local RBI regional offices and clearing house presidents for operational details.
📜 Compliance
  • Ensure readiness to participate in RTGS and NEFT on March 29 and 31 as per separate broadcast.
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, Local area banks, Agency banks doing government business), your first concrete step on “Special Clearing Operations for FY 2012-13 Closing” is: “Keep inward clearing processing infrastructure open during special clearing hours on March 29-31.” (RBI issued this 21 Mar 2013).

  1. Circular: RBI/2012-13/454 -- Special Clearing Operations for FY 2012-13 Closing
  2. Issued: 21 Mar 2013
  3. Action required: Keep inward clearing processing infrastructure open during special clearing hours on March 29-31.
  4. Action required: Maintain adequate balance in clearing settlement accounts to meet obligations from special clearings.
  5. Action required: Ensure readiness to participate in RTGS and NEFT on March 29 and 31 as per separate broadcast.
  6. Action required: Coordinate with local RBI regional offices and clearing house presidents for operational details.
  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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BankPulse Compliance Evidence Pack — generated 03 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=7905&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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