What changed
RBI decided to implement a uniform holiday calendar for CTS operations at New Delhi, Chennai, and Mumbai grids, effective October 7, 2013. These CTS locations will now observe RTGS holidays as uniform holidays, with additional closure on days when all participating states are on holiday even if RTGS is working.
What it means for you
Banks must align their CTS processing with the new uniform holiday schedule, ensuring inward clearing infrastructure is ready at grid locations. This reduces cheque realisation delays across states, but banks may need to return instruments under reason code 88 if base branch is closed on local holidays.
What you must do
- Adopt RTGS holidays as uniform holidays for CTS grids in New Delhi, Chennai, and Mumbai from October 7, 2013.
- Notify participating banks of the uniform holiday list well in advance as per the President of the CTS location.
- Set up inward clearing processing infrastructure at grid locations to handle centralized processing.
- Use return reason code 88 for instruments needing base branch reference when that branch is closed on local holidays.
- Contact the President of the Clearing House for extension or blocking of presentations under exceptional circumstances.
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
What is the effective date for the uniform holiday calendar under CTS?
The uniform holiday arrangement takes effect from October 7, 2013, for CTS grids in New Delhi, Chennai, and Mumbai.
What happens if a drawee bank's base branch is closed on a local holiday?
The drawee bank at the grid location may return the instrument to the presenting bank using return reason code 88, citing the need for reference to the drawee branch closed due to local holidays.
Can banks get extensions for inward clearing under exceptional circumstances?
Yes, banks can approach the President of the Clearing House at the CTS location for extension of return or blocking of presentation drawn on specific locations.