RBI/2016-17/260

DPSS.CO.CHD.No./2720/03.01.03/2016-17

March 29, 2017

The Chairman and Managing Director / Chief Executive Officer

All Scheduled Commercial Banks including Regional Rural Banks/

Urban Co-operative Banks / State Co-operative Banks /

District Central Co-operative Banks/Local Area Banks

Dear Sir/ Madam,

All payment systems to remain closed on April 1, 2017

A reference is invited to the our recent circular RBI/2016-17/257DPSS.CO.CHD.No./2695/03.01.03/2016-17  dated March 25, 2017 stating that all payment systems, including RTGS and NEFT would operate, as on a normal working day, during the period March 25 to April 1, 2017 (including Saturday, Sunday and all holidays). However, on reconsideration, it has been decided that all payment systems will remain closed on April 1, 2017. A separate broadcast message in this regard will be issued through the respective system to the member banks.

2. In this context it is clarified that our instructions issued vide RBI/2016-17/255 DPSS.CO.CHD.No./2656/03.01.03/2016-17 dated March 23, 2017 (on conducting Special Clearing operation on March 30 and 31, 2017) remains unchanged.

Yours faithfully

(Nanda S. Dave)

Chief General Manager-in-Charge

Payment systems closure suspends RTGS and NEFT operations on the specified date, with a broadcast to member banks. All payment systems will remain closed on April 1, 2017; the earlier instruction that RTGS and NEFT would operate as on a normal working day through that date has been withdrawn and member banks will receive a separate broadcast notification. Instructions for Special Clearing operations on March 30 and March 31, 2017 remain unchanged and continue to apply.