The Reserve Bank of India (RBI) on March 17, 2025, issued a notification regarding the Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2024-25).
The following has been stated: -
•For the financial year 2024-25, agency banks must ensure all Government transactions are accounted for within the same year. Branches handling Government transactions should remain open on March 31, 2025, for over-the-counter services.
•A special clearing for Government cheques will be conducted, and the reporting window to RBI will remain open until 12:00 PM on April 01, 2025.
•Agency banks are advised to publicize these arrangements.
The detailed notification is given in the document below.
[Notification No. RBI/2024-25/124 CO.DGBA.GBD.No.S1003/42-01-029/2024-2025]
