The Reserve bank of India (RBI) on March 27, 2204, notified regarding the Special Clearing Operations on March 30 & 31, 2024.
The Normal clearing timings under Cheque Truncation System (CTS) as applicable to any working “Saturday” shall be followed on March 30, 2024. Further, to facilitate accounting of all the Government transactions for the current financial year (2023-24) by March 31, 2024, it has been decided to conduct Special Clearing under CTS exclusively for Government Cheques on March 30 & 31, 2024 as detailed in the Table.
It is mandatory for all banks to participate in the special clearing operations on March 30 & 31, 2024. 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.
[Notification No. RBI/2023-24/141 CO.DPSS.RPPD.No.S1193/03-01-002/2023-2024]
