The Reserve Bank of India (RBI) has issued a circular regarding Special Clearing Operations for government cheques on March 31, 2025. This operation is designed to ensure the accounting of all government transactions for the financial year 2024-25. The normal clearing timings under the Cheque Truncation System (CTS) will apply on that day. However, a special clearing session for government cheques will take place from 17:00 to 17:30 hours for the presentation session and from 19:00 to 19:30 hours for the return session. All scheduled commercial banks, including regional and urban co-operative banks, and other relevant financial institutions, are required to participate. Additionally, banks must ensure their inward clearing processing infrastructure remains operational during these special hours and maintain adequate balances in their settlement accounts to meet settlement obligations. Member banks are expected to follow the instructions provided by the RBI and National Payments Corporation of India (NPCI) for smooth execution of this process.
Reserve Bank of India
RBI/2024-25/134
CO.DPSS.RPPD.No.S1278/03-01-002/2024-2025 Dated: March 28, 2025
The Chairman and Managing Director / Chief Executive Officer
All Scheduled Commercial Banks including Regional Rural Banks /
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
Madam / Dear Sir,
Special Clearing Operations on March 31, 2025
A reference is invited to the circular issued by Department of Government and Bank Accounts (DGBA) vide CO.DGBA.GBD.No.S1003/42-01-029/2024-2025 dated March 17, 2025 addressed to all the agency banks on Annual Closing of Government Accounts –Transactions of Central/State Governments – Special Measures for the Current Financial Year (2024-25).
2. Normal clearing timings under Cheque Truncation System (CTS) as applicable to any working “Monday” shall be followed on March 31, 2025. Further, to facilitate accounting of all the Government transactions for the current financial year (2024-25) by March 31, 2025, it has been decided to conduct Special Clearing under CTS exclusively for Government Cheques on March 31, 2025 as detailed below:
| Date | Presentation Session | Return Session |
| March 31, 2025 (Monday) |
17:00 Hours to 17:30 Hours | 19:00 Hours to 19:30 Hours |
3 .It is mandatory for all banks to participate in the special clearing operations on March 31, 2025. All the member banks of CTS are also 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 are advised to adhere to the instructions contained in this circular as well as instructions issued by the President of the National Grid Clearing House. Member banks may also be guided by the circular NPCI/2016-17/CTS/Circular No.32 dated October 3, 2016 issued by NPCI regarding clearing type for instruments to be presented in Special Clearing sessions.
Yours faithfully,
(Sudhanshu Prasad)
Chief General Manager
