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Special Clearing Operations for FY 2013-14 Closing

Current · Source: Reserve Bank of India · RBI/2013-14/536 · issued 26 Mar 2014 · ~2 min read
Quick answerRBI mandates special clearing on March 29-31, 2014, to ensure all government transactions are accounted by March 31. Banks must process special clearings for government credits, maintain settlement balances, and keep infrastructure open during extended hours.
The rule, in the simplest words
How it plays out — a real example

Priya, a payments & clearing officer in Indore, gets a call from her branch manager on March 28, 2014, reminding her that the bank's clearing department must stay open on Saturday and Sunday for special government credit clearings. She checks that her settlement account has enough funds to cover any inward government payments, and coordinates with the local RBI office to confirm the exact timings, ensuring all government transactions are settled before March 31.

What changed

RBI announced special clearing sessions on March 29 (Saturday), March 30 (Sunday), and March 31 (Monday) across all clearing houses. On March 29, normal Saturday clearing plus a special clearing for government credits will run. March 30 sees a special clearing exclusively for government credits. March 31 includes special clearing for locations that are holidays under the Negotiable Instruments Act, and additional government credit clearing for working locations.

What it means for you

Banks must ensure their clearing infrastructure is operational during these extended hours, especially for inward processing. Agency banks handling government business can present instruments in special clearings, while all member banks must maintain sufficient settlement account balances. This facilitates timely closure of government accounts for the financial year.

What you must do

Who it affects

All scheduled commercial banks including RRBs, Urban co-operative banks, State and district central co-operative banks, Local area banks, Agency banks handling government business

❓ Common questions

What is the purpose of these special clearing operations?

To facilitate accounting of all government transactions for the financial year 2013-14 by March 31, 2014, ensuring timely closure of government accounts.

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 requirements for other member banks during special clearing?

They must keep their inward clearing processing infrastructure open during 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/2013-14/536 DPSS.CO.CHD.No./2021/03.01.02/2013-2014 March 26, 2014 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, 2014 A reference is invited to the circular issued by our Department of Government and Bank Accounts ( DGBA.GAD.No.H.5430/ 42.01.029/2013-14 dated March 26, 2014 ) on ‘Annual Closing of Government Accounts - Transactions of Central / State Governments - Special Measures for the Current Financial Year (2013-14)’. 2. With a view to facilitate accounting of all the Government transactions for the current financial year (2013-2014) by March 31, 2014, it has been decided to conduct special clearing at all clearing houses across the country on March 29, 30 and 31, 2014 as detailed below: Date
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-14/536 · issued 26 Mar 2014. The plain-English explanation above is BankPulse’s own independent summary.
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Who does what — compliance checklist
⚙️ Operations
  • Ensure clearing house infrastructure is open and staffed during special clearing hours on March 29-31.
  • Maintain adequate balances in clearing settlement accounts to cover obligations from special clearings.
  • Agency banks must prepare to present government-related instruments in special clearings.
  • Coordinate with local RBI regional offices and clearing house presidents for specific timings and procedures.
📜 Compliance
  • Be ready to participate in extended RTGS and NEFT windows on these days 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 and district central co-operative banks, Local area banks, Agency banks handling government business), your first concrete step on “Special Clearing Operations for FY 2013-14 Closing” is: “Ensure clearing house infrastructure is open and staffed during special clearing hours on March 29-31.” (RBI issued this 26 Mar 2014).

  1. Circular: RBI/2013-14/536 -- Special Clearing Operations for FY 2013-14 Closing
  2. Issued: 26 Mar 2014
  3. Action required: Ensure clearing house infrastructure is open and staffed during special clearing hours on March 29-31.
  4. Action required: Maintain adequate balances in clearing settlement accounts to cover obligations from special clearings.
  5. Action required: Agency banks must prepare to present government-related instruments in special clearings.
  6. Action required: Coordinate with local RBI regional offices and clearing house presidents for specific timings and procedures.
  7. Action required: Be ready to participate in extended RTGS and NEFT windows on these days as per separate broadcast.
  8. Owner: ____________ Target date: ____________
  9. Board/committee approval needed? Y / N
  10. 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=8791&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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