**Summary:**
This Reserve Bank of India (RBI) circular (CO.DGBA.GBD.No.S1252420102920232024) dated March 22, 2024, outlines special measures for agency banks to account for all Central and State Government transactions within the Financial Year 2023-24, specifically concerning transactions occurring on March 31, 2024.
The key directives for agency banks are:
* Designated branches must remain open during normal working hours on March 30 and March 31, 2024, for over-the-counter government transactions.
* NEFT and RTGS transactions will continue until 2400 hours on March 31, 2024.
* Special clearing sessions will be conducted for government cheques on both March 30 and March 31, 2024. Separate communication regarding the timings for presentation and return clearing will be provided.
* The reporting window for Central and State Government transactions to RBI, including uploading of GST TIN 2.0, ICEGATE e-receipts, and luggage files, will remain open until 1200 hours (noon) on April 1, 2024.
Agency banks are instructed to publicize these special arrangements.
For further information, contact Indranil Chakraborty, 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 union government of India.
State Governments: The governments of the individual states within India.
Financial Year 2023-24: The financial year spanning from April 1, 2023, to March 31, 2024, relevant for government accounting.
National Electronic Funds Transfer: A nationwide electronic funds transfer system in India.
Real Time Gross Settlement: A system for real-time transfer of money or securities from one bank to another.
Mumbai, Maharashtra: City in India where the Central Office of the Department of Government and Bank Accounts is located.
भारतीय �रज़व� ब�क
RESERVE BANK OF INDIA
______________________________ _____________________________
www.rbi.org.in
RBI/2023-24/138
CO.DGBA.GBD.No.S1252/42-01-029/2023-2024 March 22, 2024
All Agency Banks
Madam/Dear Sir,
Annual Closing of Government Accounts – Transactions of Central / State Governments –
Special Measures for the Current Financial Year (2023-24)
All Government transactions done by agency banks for the Financial Year 2023-24 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, 2024.
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 30 and March 31,
2024.
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, 2024.
4. Special clearing will be conducted for Government cheques both on March 30 & 31, 2024.
Agency Banks are hereby advised that all cheques related to Government accounts may be
presented on such clearing. The timing for presentation and return clearing of instruments for these
special clearing sessions for government cheques will be intimated in due course.
5. Regarding reporting of Central and State Government transactions to RBI, including uploading
of GST/ TIN 2.0/ ICEGATE/ e-receipts luggage files, the reporting window of March 31, 2024 will
be kept open till 1200 hours noon on April 1, 2024.
6. Agency banks may take note and give adequate publicity to the special arrangements made as
above.
Yours faithfully
(Indranil Chakraborty)
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 - 400 008
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 ।