FY22 Govt Account Closing: Special Measures for Agency Banks
Current · Source: Reserve Bank of India · RBI/2021-2022/186 · issued 24 Mar 2022 · ~2 min read
Quick answerRBI mandates all agency banks to keep designated branches open on March 31, 2022, for over-the-counter government transactions. NEFT/RTGS will run till midnight, and the reporting window for government transactions extends to April 1, 2022, 12:00 PM.
The rule, in the simplest words
Banks that handle government money (agency banks) must keep some branches open on March 31, 2022, for people to pay or receive government money in person.
Electronic money transfers (NEFT and RTGS) will work until midnight (2400 hours) on March 31, 2022, for government payments.
Special clearing (a fast way to process government checks) will happen on March 31, 2022, as told by the payment systems department (DPSS).
Banks have until 12:00 PM on April 1, 2022, to report government transactions, including GST and e-receipts, to the RBI.
How it plays out — a real example
An agency-banking (government business) officer in Indore, Priya, reminds her branch manager that on March 31, 2022, they must keep the branch open all day for government transactions. She also tells the cashier to process any government NEFT payments before midnight, and she schedules extra time on April 1 morning to upload the day's GST receipts to the RBI system.
What changed
RBI issued special arrangements for annual closing of government accounts for FY 2021-22. Agency banks must keep branches open on March 31, 2022, for government transactions. NEFT/RTGS will continue till 2400 hours, and special clearing for government cheques will be conducted. The reporting window for central/state government transactions, including GST/e-receipts, is extended to 12:00 PM on April 1, 2022.
What it means for you
Agency banks must ensure all government transactions for FY22 are accounted within the same financial year. This requires branches to remain open on March 31, 2022, and process transactions via NEFT/RTGS till midnight. Banks need to coordinate with RBI for special clearing and extend reporting deadlines to April 1, 2022, to avoid discrepancies in government accounts.
What you must do
Keep designated branches open on March 31, 2022, for over-the-counter government transactions during normal working hours.
Ensure NEFT and RTGS systems operate till 2400 hours on March 31, 2022, for government transactions.
Participate in special clearing for government cheques as per DPSS instructions.
Extend the reporting window for central/state government transactions, including GST/e-receipts, till 12:00 PM on April 1, 2022.
Give adequate publicity to these special arrangements to all stakeholders.
Who it affects
All agency banks handling government transactions, Designated branches of agency banks, Government departments (central and state), Customers transacting with government accounts
❓ Common questions
What is the deadline for reporting government transactions to RBI?
The reporting window for central and state government transactions, including GST/e-receipts, is extended to 12:00 PM on April 1, 2022.
Will NEFT and RTGS be available on March 31, 2022, for government transactions?
Yes, NEFT and RTGS systems will continue to operate till 2400 hours on March 31, 2022, for government transactions.
Do agency banks need to keep branches open on March 31, 2022?
Yes, designated branches must remain open for over-the-counter government transactions during normal working hours on March 31, 2022.
📜 Read the original circular — full text as issued by RBI
RBI/2021-2022/186
CO.DGBA.GBD.No.S1595/42-01-029/2021-2022
March 24, 2022
All Agency Banks
Dear Sir / Madam
Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2021-22)
All government transactions done by agency banks for Financial Year 2021-22 must be accounted for within the same financial year. Accordingly, the following arrangements are put in place to report and account for Government transactions for March 31, 2022.
2. All agency banks should keep their designated branches open for over the counter transactions related to government transactions upto the normal working hours on March 31, 2022.
3. Transactions through National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) System will continue upto 2400 hours as hitherto on March 31, 2022.
4. Special clearing will be conducted for collection of government cheques on March 31, 2022 for which the Department of Payment and Settlement Systems (DPSS), RBI will issue necessary instructions.
5. Regarding reporting of Central and State Government transactions to RBI, including uploading of GST / e-receipts luggage files, the reporting window of March 31, 2022 will be extended and kept open till 1200 hours on April 1, 2022.
6. Agency banks may take note and give adequate publicity to the special arrangements made as above.
Yours faithfully
(R. Kamalakannan)
Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2021-2022/186 · issued 24 Mar 2022. The plain-English explanation above is BankPulse’s own independent summary.
Keep designated branches open on March 31, 2022, for over-the-counter government transactions during normal working hours.
⚙️ Operations
Participate in special clearing for government cheques as per DPSS instructions.
💻 IT / Systems
Ensure NEFT and RTGS systems operate till 2400 hours on March 31, 2022, for government transactions.
📜 Compliance
Extend the reporting window for central/state government transactions, including GST/e-receipts, till 12:00 PM on April 1, 2022.
Give adequate publicity to these special arrangements to all stakeholders.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template
Example: if you are a Branch Manager at a bank this circular applies to (All agency banks handling government transactions, Designated branches of agency banks, Government departments (central and state), Customers transacting with government accounts), your first concrete step on “FY22 Govt Account Closing: Special Measures for Agency Banks” is: “Keep designated branches open on March 31, 2022, for over-the-counter government transactions during normal working hours.” (RBI issued this 24 Mar 2022).
Circular: RBI/2021-2022/186 -- FY22 Govt Account Closing: Special Measures for Agency Banks
Issued: 24 Mar 2022
Action required: Keep designated branches open on March 31, 2022, for over-the-counter government transactions during normal working hours.
Action required: Ensure NEFT and RTGS systems operate till 2400 hours on March 31, 2022, for government transactions.
Action required: Participate in special clearing for government cheques as per DPSS instructions.
Action required: Extend the reporting window for central/state government transactions, including GST/e-receipts, till 12:00 PM on April 1, 2022.
Action required: Give adequate publicity to these special arrangements to all stakeholders.
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.
💬 Banker Discussion
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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=12259&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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