The Reserve Bank of India issued operational instructions to all agency banks for reporting and accounting Central Government transactions for March 2025, confirming that residual March transactions may be closed up to April 10, 2025 and must be accounted for in the 2024-25 financial year without being mixed with April 2025 activity. Receiving branches, including those not locally situated, are to put in place special arrangements such as courier services to ensure challans and scrolls reach Nodal or Focal Point branches in time for year-end accounting. From April 1, 2025 to April 10, 2025, Nodal or Focal Point branches must segregate March 2025 scrolls and prepare separate main scrolls for March residual transactions and for transactions effected from April 1, 2025 onwards, with March residual scrolls distinctly numbered “March Residual – 1”, “March Residual – 2” and so on up to April 10. March residual transactions must be reported to the Link Cell using separate daily memos for daily settlement with the Reserve Bank of India, Central Accounts Section, Nagpur, and the Link Cell must forward March residual advices separately; transactions reported after April 10 are to be accounted for in the month of report, irrespective of the transaction date. Focal Point branches must prepare a statement for March residual transactions clearly marked “March Residual Account” and send it to Zonal Accounts Officers or Pay and Accounts Officers by April 18, 2025, alongside the usual April 2025 monthly statement. The circular also clarifies that cheques or amounts realised on or before March 31, 2025 are to be treated as March 2025 or March residual transactions (even if reported in April up to April 10), while cheques tendered on or before March 31 but realised on or after April 1, 2025 are to be treated as April transactions for the next financial year.

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