**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 for the Financial Year 2023-24 within the same financial year. To facilitate this, all agency banks are instructed to keep designated branches open for over-the-counter government transactions during normal working hours on March 30 and 31, 2024. NEFT and RTGS transactions will continue until 2400 hours on March 31, 2024. Special clearing will be conducted for government cheques on both March 30 and 31, 2024; timings for presentation and return clearing will be intimated separately. The reporting window for Central and State Government transactions to RBI, including uploading GST TIN 2.0, ICEGATE e-receipts, and luggage files, will remain open until 1200 hours (noon) on April 1, 2024. Agency banks are directed to publicize these 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: 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 Government: The government of individual states within India.
National Electronic Funds Transfer: A nationwide electronic funds transfer system in India.
Real Time Gross Settlement: A system for real-time transfer of money between banks in India.
Goods and Services Tax Identification Number: A unique identification number for taxpayers under the Goods and Services Tax (GST) regime in India.
Mumbai, Maharashtra: A city in India where the central office of Reserve Bank of India 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 ।