Home › Circulars › RBI/2021-2022/188

Special Clearing for Government Cheques on March 31, 2022

Current · Source: Reserve Bank of India · RBI/2021-2022/188 · issued 28 Mar 2022 · ~1 min read
Quick answerRBI mandates special clearing for government cheques on March 31, 2022, across CTS grids in New Delhi, Chennai, and Mumbai. Banks must participate, keep infrastructure open, and maintain settlement balances to ensure government transactions are accounted for by year-end.
The rule, in the simplest words
How it plays out — a real example

As the payments & clearing officer in Indore, Rohan ensured that the bank's inward clearing processing system was operational during the extended hours on March 31, 2022. He also maintained sufficient settlement account balances to cover obligations for government transactions, ensuring that the bank's government accounting was accurate by year-end.

What changed

RBI has directed special clearing operations exclusively for government cheques on March 31, 2022, across all three CTS grids. Presentation clearing is scheduled between 17:00 and 17:30 hours, with return clearing between 19:00 and 19:30 hours. Normal clearing timings for a Thursday will apply for other instruments.

What it means for you

Banks must ensure their inward clearing processing systems are operational during the extended hours and maintain sufficient settlement account balances to cover obligations. This is mandatory for all scheduled commercial banks, RRBs, urban co-operative banks, state co-operative banks, DCCBs, LABs, payment banks, small finance banks, and NPCI. Non-compliance could disrupt government accounting for the financial year.

What you must do

Who it affects

All scheduled commercial banks, Regional Rural Banks, Urban Co-operative Banks, State Co-operative Banks, District Central Co-operative Banks, Local Area Banks, Payment Banks, Small Finance Banks, National Payments Corporation of India

❓ Common questions

What is the purpose of this special clearing operation?

To facilitate accounting of all government transactions for the financial year 2021-22 by March 31, 2022.

Is participation mandatory for all banks?

Yes, it is mandatory for all banks listed in the circular to participate in the special clearing operations.

What are the specific timings for special clearing?

Presentation clearing is between 17:00 and 17:30 hours, and return clearing is between 19:00 and 19:30 hours on March 31, 2022.

📜 Read the original circular — full text as issued by RBI
Notifications - Reserve Bank of India Skip to main content Selected Selected Change Language हिंदी Search the Website Search Home About Us ▼ About Us Organisation & Functions ▶ Organisation Structure Departments Offices Training Establishment ▶ College of Agricultural Banking Reserve Bank Staff College College of Supervisors RBI's Functions and Working Governors Deputy Governors Executive Directors Communication Policy of RBI Sources of Information ▶ Annual Publications Half-yearly Publications Quarterly Publications Monthly Publications Weekly Publications Occasional Publications SDDS NSDP Data Releases Publications available on Subscription General Information RBI History Museum ▶ The RBI Museum RBI Monetary Museum Notification ▼ Notifications Master Directions Master Circulars Amendment Directions Draft Notifications/Guidelines ▶ Draft Notifications/Guidelines Draft Directions (RE-wise) Index To RBI Circulars Standalone Circulars Circulars Withdrawn Press Releases Speeches & Media Interactions ▼ Speeches Media Interactions Memorial Lectures Podcasts Publications ▼ Biennial Annual Half-Yearly Quarterly Bi-monthly Monthly Weekly Occasional Reports Working Papers Legal Framework ▼ Act Rules Regulations Schemes Research ▼ External Research Schemes RBI Occasional Papers Working Papers RBI Bulletin History DRG Studies KLEMS State Statistics and Finances Statistics ▼ Data Releases Database on Indian Economy Public Debt Statistics Regulatory Reporting ▼ List of Returns Data Definition Validation rules/ Taxonomy List of RBI Reporting Portals FAQs of RBI Reporting Portals Home Notifications Notifications ( 942 kb ) Special Clearing operations on March 31, 2022 RBI/2021-2022/188 CO.DPSS.RPPD.No./S1769/03-01-002/2021-22 March 28, 2022 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks / Local Area Banks / Payment Banks / Small Finance Banks / National Payments Corporation of India Madam / Dear Sir, Special Clearing operations on March 31, 2022 A reference is invited to the circular issued by Department of Government and Bank Accounts (DGBA) vide CO.DGBA.GBD.No.S1595/42-01-029/2021-2022 dated March 24, 2022 addressed to all the agency banks on Annual Closing of Government Accounts –Transactions of Central / State Governments – Special Measures for the Current Financial Year (2021-22). 2. Normal clearing timings as applicable to any working “Thursday” shall be followed on March 31, 2022. Further, to facilitate accounting of all the Government transactions for the current financial year (2021-22) by March 31, 2022, it has been decided to conduct Special Clearing exclusively for Government Cheques across the three CTS grids on March 31, 2022 as detailed below: Location Presentation Clearing Return Clearing CTS Grids (New Delhi, Chennai and Mumbai) Between 17:00 and 17:30 Hours Between 19:00 and 19:30 Hours 3. It is mandatory for all banks to participate in the special clearing operations on March 31, 2022. All the member banks under the respective CTS Grids are required to 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 arising out of the Special Clearing. 4. Member banks under the respective CTS Grids are advised to adhere to the instructions contained in this circular as well as instructions issued by the President of the respective CTS grids. Member banks may also be guided by the circular NPCI/2016-17/CTS/Circular No.32 dated October 3, 2016 issued by NPCI to all member banks regarding clearing type for instruments to be presented in Special Clearing sessions. 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Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2021-2022/188 · issued 28 Mar 2022. The plain-English explanation above is BankPulse’s own independent summary.
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Who does what — compliance checklist
⚙️ Operations
  • Confirm participation in special clearing on March 31, 2022, across all three CTS grids.
  • Keep inward clearing processing infrastructure open from 17:00 to 19:30 hours.
  • Maintain adequate balance in clearing settlement accounts to meet settlement obligations.
📜 Compliance
  • Adhere to instructions from respective CTS grid Presidents and NPCI circular dated October 3, 2016.
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, Regional Rural Banks, Urban Co-operative Banks, State Co-operative Banks, District Central Co-operative Banks, Local Area Banks, Payment Banks, Small Finance Banks, National Payments Corporation of India), your first concrete step on “Special Clearing for Government Cheques on March 31, 2022” is: “Confirm participation in special clearing on March 31, 2022, across all three CTS grids.” (RBI issued this 28 Mar 2022).

  1. Circular: RBI/2021-2022/188 -- Special Clearing for Government Cheques on March 31, 2022
  2. Issued: 28 Mar 2022
  3. Action required: Confirm participation in special clearing on March 31, 2022, across all three CTS grids.
  4. Action required: Keep inward clearing processing infrastructure open from 17:00 to 19:30 hours.
  5. Action required: Maintain adequate balance in clearing settlement accounts to meet settlement obligations.
  6. Action required: Adhere to instructions from respective CTS grid Presidents and NPCI circular dated October 3, 2016.
  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=12261&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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