RBI Notifies in Regard to Reporting and Accounting of Central Government transactions for March 2023

On 16th March 2023, the Reserve Bank of India issued a notification in reference to a prior issued Circular DGBA.GBD.No.S1422/42-01-29/2021-2022 issued on 24th February 2022 in regard to the Reporting and Accounting of Central Government transactions for March 2023 advising the procedure to be followed for reporting and accounting of Central Government transactions (including CBDT, CBIC, Departmentalised Ministries and Non-Civil Ministries) at the Receiving/Nodal/Focal Point branches of your bank for the Financial
Year 2021-22.

The Government of India has announced the fixed date of closer of residual transactions for the month of March 2023 on 10th April 2023. In view of the ensuing closing of Government accounts for the financial year 2022-23, receiving branches including those not situated locally, should adopt special arrangements such as courier service etc., for passing on challans/scrolls etc., to the Nodal/Focal Point branches so that all payments and collections made on behalf of Government towards the end of March are accounted for in the same financial year. These instructions are issued in regard to special messenger arrangements that is to be informed to all branches concerned.