Special Clearing operations on March 30 and 31, 2015

RBI/2014–15/517 DPSS.CO.CHD.No./1776/03.01.02/2014–2015

March 26, 2015

A ref­er­ence is invit­ed to the cir­cu­lar issued by our Depart­ment of Gov­ern­ment and Bank Accounts (DGBA.GAD.No.4318/42.01.029/2014–15 dat­ed March 25, 2015) on ‘Annu­al Clos­ing of Gov­ern­ment Accounts — Trans­ac­tions of Cen­tral / State Gov­ern­ments — Spe­cial Mea­sures for the Cur­rent Finan­cial Year (2014–15)’.

2. With a view to facil­i­tate account­ing of all the Gov­ern­ment trans­ac­tions for the cur­rent finan­cial year (2014–2015) by March 31, 2015, it has been decid­ed to con­duct spe­cial clear­ing at all clear­ing hous­es across the coun­try on March 30 and 31, 2015 as detailed below:

Date	Type of clearing	Pre­sen­ta­tion clearing	Return clear­ing
March 30, 2015 (Mon­day)	Nor­mal Clear­ing as fol­lowed on any work­ing Monday
	In addi­tion, a Spe­cial Clear­ing exclu­sive­ly for Gov­ern­ment trans­ac­tions (receipts and pay­ments) with return clear­ing on the same day as per the sched­ule indi­cat­ed below.
March 31, 2015 (Tues­day)	Nor­mal Clear­ing as fol­lowed on any work­ing Tuesday
	In addi­tion, a Spe­cial Clear­ing exclu­sive­ly for Gov­ern­ment trans­ac­tions (receipts and pay­ments) with return clear­ing on the same day as per the sched­ule indi­cat­ed below.

Sched­ule for var­i­ous types of clearing

a. CTS grid loca­tions (Chen­nai, Mum­bai and New Delhi)

Spe­cial Pre­sen­ta­tion clear­ing on March 30 & 31, 2015***	P2F ses­sion tim­ings for the instru­ments pre­sent­ed through the Spe­cial Clearing	Return clear­ing for the instru­ments pre­sent­ed through the spe­cial clearing
Between 20.00 and 20.30 hours	Between 21.00 and 21.30 hours	Between 22.00 and 22.15
*** Under the spe­cial clear­ing, sin­gle ses­sion will be run for both CTS-2010 and non-CTS-2010 stan­dard instru­ments togeth­er. No seg­re­ga­tion is required.

b. Spe­cial clear­ing in non-MICR/ECCS clear­ing houses

Pre­sen­ta­tion clearing	Return clear­ing
One hour after the extend­ed busi­ness hours keep­ing in view the oper­a­tional con­ve­nience at the local center	Half an hour/One hour after the pre­sen­ta­tion clear­ing keep­ing in view the oper­a­tional con­ve­nience at the local center.

3. Par­tic­i­pa­tion in the out­ward clear­ing is the choice left to banks depends upon the instru­ments received by them towards cred­it-to/­pay­ment-from Gov­ern­ment accounts. How­ev­er, all mem­ber banks of the Clear­ing House 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 of Clear­ing Hous­es are advised to adhere to the instruc­tions con­tained in this cir­cu­lar as well as the instruc­tions received from the Region­al offices of Reserve Bank of India and Pres­i­dents of respec­tive Clear­ing Houses.

5. Mem­ber banks are also advised to be in readi­ness to par­tic­i­pate in the Cen­tralised Pay­ment Sys­tems (RTGS and NEFT) on these days (March 30–31, 2015). A sep­a­rate broad­cast mes­sage in this regard will be issued through the respec­tive sys­tem indi­cat­ing the extend­ed time window.