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of <h1>RBI Announces Special Clearing Operations for Banks on March 30-31 to Finalize FY 2015-16 Government Transactions.</h1> The Reserve Bank of India issued a circular to all scheduled commercial banks, including regional and cooperative banks, regarding special clearing operations on March 30 and 31, 2016. This initiative aims to ensure the completion of government transactions for the financial year 2015-16 by March 31. Special clearing sessions will be conducted at all clearing houses nationwide, including CTS grid locations and non-MICR/ECCS centers, with specific timings for presentation and return clearings. Participation is mandatory for all banks, which must maintain adequate balances for settlement obligations. Banks are also advised to prepare for centralized payment systems during these dates.
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