Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: VAT RATES :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: VAT Audit :: empanelment :: due date for vat payment :: cpt :: articles on VAT and GST in India
 
 
« General »
 Tax breather for foreign investors: All you need to know
 What the increase in tax collections does not tell us about Indian economy post demonetisation
 India’s crazy retrospective tax on foreign funds will tarnish country’s reputation
 How tax related, PAN grievances can be resolved through E-Nivaran
 Tackling income tax exemptions for equities and agriculture
 Amfi wants tax benefits for retirement plans
 Top five factors which could chart market direction in the coming week
 Tax rate hikes boost shadow economy
 Tax mop-up may decline in new amnesty scheme
 Weeks before Budget, Finance Minister Arun Jaitley lists out benefit of low tax rates
 Second home loan tax benefits

Special Clearing operations on March 30 and 31, 2016
March, 29th 2016

RBI/2015-16/347
DPSS.CO.CHD.No./2313/03.01.03/2015-16

March 28, 2016

The Chairman and Managing Director / Chief Executive Officer
All Scheduled Commercial Banks including Regional Rural Banks/
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks/Local Area Banks

Madam / Dear Sir,

Special Clearing operations on March 30 and 31, 2016

A reference is invited to the circular issued by our Department of Government and Bank Accounts (DGBA.GAD.No.2969/42.01.029/2015-16 dated March 17, 2016) on ‘Annual Closing of Government Accounts - Transactions of Central / State Governments - Special Measures for the Current Financial Year (2015-16)’.

2. With a view to facilitate accounting of all the Government transactions for the current financial year (2015-16) by March 31, 2016, it has been decided to conduct special clearing at all clearing houses across the country on March 30 and 31, 2016 as detailed below:

Date

Type of clearing

Presentation clearing

Return clearing

March 30, 2016
(Wednesday)

Normal Clearing as followed on any working Wednesday

In addition, 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, 2016
(Thursday)

Normal Clearing as followed on any working Thursday

In addition, 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

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

Special Presentation clearing
on March 30 & 31, 2016***

P2F session timings for the instruments
presented through the Special Clearing

Return clearing for the instruments
presented through the special clearing

Between 20.00 and 20.30 hours

Between 21.00 and 21.30 hours

Between 22.00 and 22.15

*** 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

Presentation clearing

Return clearing

One hour after the extended business hours keeping in view the operational convenience at the local center

Half an hour/One hour after the presentation clearing keeping in view the operational convenience at the local center.

3. It is mandatory for all banks to participate in the special clearing operations on these two days. 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. However, participation in the outward clearing is left to banks depending upon the instruments received by them towards credit-to/payment-from Government accounts.

4. Member banks of Clearing Houses are advised to adhere to the instructions contained in this circular as well as the instructions received from the Regional offices of Reserve Bank of India and Presidents of respective Clearing Houses.

5. 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, 2016). A separate broadcast message in this regard will be issued through the respective system indicating the extended time window.

Yours faithfully

(Nanda S. Dave)
Chief General Manager

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions