**Summary:**
This circular, issued by the Reserve Bank of India (RBI) on March 24, 2022 (CO.DGBA.GBD.No.S1595420102920212022), outlines special measures for agency banks to ensure all Central and State Government transactions for the financial year 2021-22 are accounted for within the same financial year.
Specifically, agency banks are directed to:
* Keep designated branches open for over-the-counter government transactions until normal working hours on March 31, 2022.
* Continue NEFT and RTGS transactions up to 2400 hours on March 31, 2022.
* Participate in a special clearing conducted by the Department of Payment and Settlement Systems (DPSS), RBI, for the collection of government cheques on March 31, 2022.
* Note that the reporting window for Central and State Government transactions, including uploading GST e-receipts/luggage files to RBI, will be extended until 1200 hours on April 1, 2022.
Agency banks are instructed to adequately publicize these special arrangements.
For further information, contact R. Kamalakannan, Chief General Manager, Department of Government and Bank Accounts, Central Office, Opp. Mumbai Central Railway Station, Byculla, Mumbai – 400 008. Telephone: 022-2308 4121; Fax No. 022-2300 0370 / 2301 6072 / 2301 0095; email: cgmicdgbacorbi.org.in.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for regulating the banking system and managing the country's currency.
Agency Banks: Banks authorized by the Reserve Bank of India to handle government transactions.
Central Government: The government of India.
State Governments: The governments of the individual states within India.
Financial Year 2021-22: The financial year in India, spanning from April 1, 2021, to March 31, 2022.
National Electronic Funds Transfer (NEFT): A nationwide electronic funds transfer system in India.
Real Time Gross Settlement (RTGS): A system for real-time transfer of money or securities from one bank to another.
Department of Payment and Settlement Systems (DPSS): A department within the Reserve Bank of India responsible for payment and settlement systems.
भारतीय �रज़व� ब�क
RESERVE BANK OF INDIA
__________________________ __________________________
www.rbi.org.in
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
सरकारी और बक� लखे ा िवभाग, केन्�ीय कायार्लय, मबुं ई स�� ल रेल्व ेस्टेशन के सामने, भायखला, मबुं ई -400 008
Department of Government and Bank Accounts, Central Office, Opp. Mumbai Central Railway Station, Byculla, Mumbai - 400008
Telephone: (022) 2308 4121, Fax No. (022) 2300 0370/2301 6072/2301 0095, e-mail: cgmicdgbaco@rbi.org.in
िहन्दी आसान ह,ै इसका �योग बढ़ाइए ।