RBI announces special measures for annual closing of govt accounts for current financial year

Reserve Bank of India has announced special measures for annual closing of government accounts for the current financial year. A special clearing will be conducted for collection of government cheques on 31st March 2021. RBI has instructed all agency banks to keep their designated branches open for over the counter transactions related to



government transactions up to the normal working hours on 31st March.

 

For reporting government transactions to RBI, the reporting window will be open till the midnight of 31st March. Transactions through NEFT and RTGS can also be carried out up to to midnight on the day.