The Reserve Bank of India has announced special clearing operations under the Cheque Truncation System (CTS) on 31 March 2025 to facilitate accounting of Central and State government transactions for the 2024–25 financial year by the year-end. Normal CTS clearing timings applicable to a working Monday will apply, alongside an additional special clearing exclusively for government cheques. The special CTS session on 31 March 2025 will run from 17:00 to 17:30 for the presentation session and from 19:00 to 19:30 for the return session. Participation in the special clearing is mandatory for all banks, and CTS member banks must keep inward clearing processing infrastructure open during the special clearing hours and maintain sufficient balances in their clearing settlement accounts to meet settlement obligations. Banks are also expected to follow the circular’s instructions, directions issued by the President of the National Grid Clearing House, and NPCI guidance on clearing types for instruments presented in special clearing sessions.
Reserve Bank of India 2025-03-28
Reserve Bank of India mandates a special CTS clearing session for government cheques on 31 March 2025
The Reserve Bank of India will conduct special clearing operations under the Cheque Truncation System on 31 March 2025 to facilitate year-end government transactions. Normal Monday CTS timings will apply, with an additional session for government cheques from 17:00 to 17:30 and 19:00 to 19:30. Participation is mandatory for all banks, which must ensure infrastructure readiness and sufficient settlement account balances.