Banking News

Special clearings in Banks on 30th & 31 March 2015


Details of Special Clearing operations on March 30 and 31, 2015 at all clearing houses.(For RTGS/NEFT- extended time window will be indicated through the respective system).

March 30, 2015(Monday): Normal Clearing as followed on any working Monday plus 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 plus 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 are as under.

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

Special Presentation clearing on March 30 & 31, 2015
Special Clearing presentation:Between 20.00 and 20.30 hours
P2F session timings : Between 21.00 and 21.30 hours
Return clearing : Between 22.00 and 22.15 hours

*** 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

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

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.

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.

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