The Reserve Bank of India (RBI) on March 22, 2024, issued the notification regarding the Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2023-24).
The following has been stated namely: -
• The following arrangements are put in place to report and account for Government transactions for March 31, 2024.
o All Agency banks should keep their designated branches open for over-the-counter transactions related to government transactions up to the normal working hours on March 30 and March 31, 2024.
o Transactions through National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) System will continue up to 2400 hours as hitherto on March 31, 2024.
o Special clearing will be conducted for Government cheques both on March 30 & 31, 2024. All cheques related to Government accounts may be presented on such clearing.
o The reporting window of Central and State Government transactions to RBI of March 31, 2024, will be kept open till 1200 hours noon on April 01, 2024.
[Notification No. RBI/2023-24/138]
