Page 53 - Banking Finance April 2022

RBI CIRCULAR

RBI

CIRCULAR

Framework for Geo-tagging of Payment arrangements are put in place to report and account
for Government transactions for March 31, 2022.
System Touch Points
2. All agency banks should keep their designated branches
RBI/2021-22/187 open for over the counter transactions related to
March 25, 2022 government transactions upto the normal working
hours on March 31, 2022.
1. To facilitate nuanced spread of acceptance 3. Transactions through National Electronic Funds Transfer
infrastructure and inclusive access to digital payments, (NEFT) and Real Time Gross Settlement (RTGS) System
the Monetary Policy Statement 2020-21 on October 08, will continue upto 2400 hours as hitherto on March 31,
2021 had announced that a framework for geo-tagging 2022.
of physical payment acceptance infrastructure would 4. Special clearing will be conducted for collection of
be prescribed by Reserve Bank. Accordingly, a government cheques on March 31, 2022 for which the
framework for capturing geo-tagging information of Department of Payment and Settlement Systems
payment system touch points deployed by banks / non- (DPSS), RBI will issue necessary instructions.
bank PSOs is laid out in the Annex. The date from which
the information shall be reported to Reserve Bank shall, 5. Regarding reporting of Central and State Government
however, be advised in due course. transactions to RBI, including uploading of GST / e-
receipts luggage files, the reporting window of March
2. This framework is issued under Section 10 (2) read with 31, 2022 will be extended and kept open till 1200 hours
Section 18 of Payment and Settlement Systems Act, on April 1, 2022.
2007 (Act 51 of 2007).
6. Agency banks may take note and give adequate
(P Vasudevan) publicity to the special arrangements made as above.
Chief General Manager
(R. Kamalakannan)
Annual Closing of Government Accounts Chief General Manager
– Transactions of Central / State
Master Direction - Classification, Valuation
Governments – Special Measures for the
and Operation of Investment Portfolio of
Current Financial Year (2021-22)
Commercial Banks (Directions), 2021 -
RBI/2021-2022/186
Amendment
March 24, 2022
RBI/2021-22/185
1. All government transactions done by agency banks for March 23, 2022
Financial Year 2021-22 must be accounted for within
the same financial year. Accordingly, the following 1. Please refer to the Master Direction DOR.MRG.42/

BANKING FINANCE | APRIL | 2022 | 53