What changed
RBI has announced a special clearing session under CTS exclusively for government cheques on March 31, 2025. Normal Monday timings apply for regular clearing, but an additional window from 5:00-5:30 PM for presentation and 7:00-7:30 PM for returns is introduced for government transactions.
What it means for you
Banks must ensure their CTS infrastructure is operational during the special window and maintain adequate settlement account balances. This facilitates timely accounting of government transactions for the financial year ending March 31, 2025. Non-compliance could disrupt government account closures.
What you must do
- Ensure your bank's CTS inward clearing processing infrastructure is open during the special clearing hours on March 31, 2025.
- Maintain sufficient balance in your clearing settlement account to meet settlement obligations from the special clearing.
- Instruct all relevant branches and clearing teams to participate in the special session as it is mandatory.
- Refer to NPCI circular dated October 3, 2016 for guidance on clearing type for instruments in special sessions.
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, Payment Banks, Small Finance Banks, National Payments Corporation of India
What is the timing for the special clearing on March 31, 2025?
Presentation session runs from 5:00 PM to 5:30 PM, and return session from 7:00 PM to 7:30 PM.
Is participation in this special clearing mandatory?
Yes, it is mandatory for all banks that are members of CTS.
What happens if my bank does not maintain sufficient settlement balance?
You must maintain sufficient balance to meet settlement obligations; failure could disrupt the clearing process and government account closing.