Reserve Bank of India (RBI) has issued guidelines for agency banks to ensure the timely completion of government account transactions for the financial year 2024-25. All government transactions must be accounted for within the same financial year. To facilitate this, agency banks must keep branches handling government receipts and payments open during normal working hours on March 31, 2025. A special clearing session will be arranged for processing government cheques, with instructions to be provided by RBI’s Department of Payment and Settlement Systems. Additionally, the reporting window for uploading files related to Central and State Government transactions, including GST, TIN 2.0, ICEGATE, and State e-receipts, will remain open until 12:00 noon on April 1, 2025. The RBI has urged agency banks to ensure adequate publicity of these special arrangements.
RESERVE BANK OF INDIA
RBI/2024-25/124
CO.DGBA.GBD.No.S1003/42-01-029/2024-2025
March 17, 2025
All Agency Banks Madam/ Dear Sir,
Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2024-25)
All Government transactions done by agency banks for the Financial Year 2024-25 must be accounted for within the same financial year.
Accordingly, the following arrangements are put in place to report and account for Government transactions for March 31, 2025:
(a) All agency banks should keep all branches dealing with Government receipts and payments open for over the counter transactions related to Government transactions up to the normal working hours on March 31, 2025.
(b) Special clearing will be conducted for collection of Government cheques on March 31, 2025 for which the Department of Payment and Settlement Systems (DPSS), RBI will issue necessary instructions.
(c) Regarding reporting of Central and State Government transactions to RBI, including uploading of GST/ TIN 2.0/ ICEGATE/ State e-receipts luggage files, the reporting window of March 31, 2025, will be kept open till 1200 hours noon on April 1, 2025.
2. Agency banks may take note and give adequate publicity to the special arrangements made as above.
Yours faithfully
(Indranil Chakraborty) Chief General Manager
