Home › Circulars › RBI/2022-23/190

Special Clearing for Government Cheques on March 31, 2023

Current · Source: Reserve Bank of India · RBI/2022-23/190 · issued 29 Mar 2023 · ~2 min read
Quick answerRBI mandates special clearing for government cheques on March 31, 2023 across CTS grids to ensure all government transactions are accounted for the financial year. Banks must participate and keep processing infrastructure open during specified hours.
The rule, in the simplest words
How it plays out — a real example

A payments & clearing officer in Indore, Priya, knows that on March 31, 2023, her bank must process government cheques during the special evening hours. She reminds her team to keep the cheque-scanning machines on from 5:00 PM to 5:30 PM and checks that the bank's settlement account has enough funds to pay for any government cheques that come in, so the government's year-end accounts close smoothly.

What changed

RBI announced special clearing operations exclusively for government cheques on March 31, 2023 across the three CTS grids (New Delhi, Chennai, Mumbai). Presentation clearing is scheduled between 17:00 and 17:30 hours, and return clearing between 19:00 and 19:30 hours. Normal clearing timings for a Friday will apply for other transactions.

What it means for you

Banks must ensure their inward clearing processing infrastructure is operational during the special clearing hours and maintain sufficient balances in their clearing settlement accounts to meet obligations. This is mandatory for all scheduled commercial banks, including RRBs, urban co-operative banks, state co-operative banks, district central co-operative banks, local area banks, 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

Why is special clearing only for government cheques?

To facilitate accounting of all government transactions for the financial year 2022-23 by March 31, 2023, as per the DGBA circular on annual closing of government accounts.

What happens if my bank does not participate?

Participation is mandatory for all banks. Non-participation may lead to settlement failures and disrupt government accounting, potentially attracting regulatory action.

Are normal clearing timings affected on March 31?

No, normal clearing timings for a Friday will be followed. The special clearing is an additional session exclusively for government cheques.

📜 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 ( 955 kb ) Special Clearing Operations on March 31, 2023 RBI/2022-23/190 CO.DPSS.RPPD.No.S2185/03-01-002/2022-2023 March 29, 2023 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, 2023 A reference is invited to the circular issued by Department of Government and Bank Accounts (DGBA) vide CO.DGBA.GBD.No.S1490/42-01-029/2022-2023 dated March 21, 2023 addressed to all the agency banks on Annual Closing of Government Accounts –Transactions of Central/State Governments – Special Measures for the Current Financial Year (2022-23). 2. Normal clearing timings as applicable to any working “Friday” shall be followed on March 31, 2023. Further, to facilitate accounting of all the Government transactions for the current financial year (2022-23) by March 31, 2023, it has been decided to conduct Special Clearing exclusively for Government Cheques across the three CTS grids on March 31, 2023 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, 2023. 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. Yours faithfully, (P Vasudevan) Chief General Manager 2026 All Months January February March April May June July August September October November December 2025 All Months January February March April May June July August September October November December 2024 All Months January February March April May June July August September October November December 2023 All Months January February March April May June July August September October November December 2022 All Months January February March April May June July August September October November December 2021 All Months January February March April May June July August September October November December 2020 All Months January February March April May June July August September October November December 2019 All Months January February March April May June July August September October November December 2018 All Months January February March April May June July August September October November December 2017 All Months January February March April May June July August September October November December Archives 2016 All Months January February March April May June July August September October November December 2015 All Months January February March April May June July August September October November December 2014 All Months January February March April May June July August September October November December 2013 All Months January February March April May June July August September October November December 2012 All Months January February March April May June July August September October November December 2011 All Months January February March April May June July August September October November December 2010 All Months January February March April May June July August September October November December 2009 All Months January February March April May June July August September October November December 2008 All Months January February March April May June July August September October November December 2007 All Months January February March April May June July August September October November December 2006 All Months January February March April May June July August September October November December 2005 All Months January February March April May June July August September October November December 2004 All Months January February March April May June July August September October November December 2003 All Months January February March April May June July August September October November December 2002 All Months January February March April May June July August September October November December 2001 All Months January February March April May June July August September October November December 2000 All Months January February March April May June July August September October November December 1999 All Months January February March April May June July August September October November December 1998 All Months January February March April May June July August September October November December 1997 All Months January February March April May June July August September October November December 1996 All Months January February March April May June July August September October November December 1995 All Months January February March April May June July August September October November December 1994 All Months January February March April May June July August September October November December 1993 All Months January February March April May June July August September October November December 1992 All Months January February March April May June July August September October November December 1991 All Months January February March April May June July August September October November December Top Back to previous page More Links : Bank Holidays Banking Glossary Citizen's Charter Complaints Contact Us COVID-19 Measures E-LMS Events FAQs Financial Education Forms IFSC/MICR Codes Important Websites Opportunities @ RBI RBI Clarifications RBI Kehta Hai RBI’s Vision and Values (1257 kb)--> Right to Information Act Tenders Follow RBI RSS Twitter YouTube Instagram Facebook LinkedIn © Reserve Bank of India. 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Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2022-23/190 · issued 29 Mar 2023. The plain-English explanation above is BankPulse’s own independent summary.
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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, 2023” is: “Ensure your bank participates in the special clearing on March 31, 2023 as it is mandatory.” (RBI issued this 29 Mar 2023).

  1. Circular: RBI/2022-23/190 -- Special Clearing for Government Cheques on March 31, 2023
  2. Issued: 29 Mar 2023
  3. Action required: Ensure your bank participates in the special clearing on March 31, 2023 as it is mandatory.
  4. Action required: Keep inward clearing processing infrastructure open during the specified hours (17:00-17:30 for presentation, 19:00-19:30 for return).
  5. Action required: Maintain sufficient balance in your clearing settlement account to cover settlement obligations from the special clearing.
  6. Action required: Follow instructions from the President of your respective CTS grid and NPCI circular dated October 3, 2016 regarding clearing type for special sessions.
  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=12466&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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