BANKER TO BANKS

Like individual consumers, businesses and organisation of all kinds, banks need their own mechanism to transfer funds and settle inter-bank transaction-such as borrowing from and lending to other banks-and customer transactions. As the banker to banks, the Reserve Bank fulfills this role.

Notifications

(43 kb)
Date : Mar 27, 2018
Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2017-18)

RBI/2017-18/144
DGBA.GBD.No.2388/42.01.029/2017-18

March 27, 2018

All agency banks

Dear Sir / Madam

Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2017-18)

The Government of India has desired that all government transactions with banks for Financial Year 2017-18 must be accounted for within the same financial year and has requested that, as in previous years, certain special arrangements be made for this purpose. Accordingly, all agency banks should keep the counters of their designated branches conducting government banking open for government transactions up to 8.00 p.m. on March 31, 2018. All electronic transactions, including RTGS and NEFT, will continue till midnight on March 31, 2018. Banks may give adequate publicity to the special arrangements made.

Yours faithfully

(Partha Choudhuri)
General Manager

2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
Archives
Top