Government year end accounting requires banks to extend branch hours and preserve electronic processing to ensure same year posting. Agency banks must keep counters of designated branches conducting government business open for the full day on the penultimate date and until 8.00 p.m. on the final date of the financial year, while electronic transactions will continue until midnight on the last date. Banks must give adequate publicity to these special arrangements. Separate guidelines on extended clearing sessions/operations for these dates will be issued by the Department of Payment and Settlement Systems.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Government year end accounting requires banks to extend branch hours and preserve electronic processing to ensure same year posting.
Agency banks must keep counters of designated branches conducting government business open for the full day on the penultimate date and until 8.00 p.m. on the final date of the financial year, while electronic transactions will continue until midnight on the last date. Banks must give adequate publicity to these special arrangements. Separate guidelines on extended clearing sessions/operations for these dates will be issued by the Department of Payment and Settlement Systems.
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