The Presidents / Chief Executives

All Commercial Banks, MFBs and NIFT

Dear Sir / Madam

Special Instructions for Clearing of Financial Instruments

Please refer to BPRD Circular Letter No. 22 of 2016 regarding the opening of Bank’s Branches on 2nd and 9th July, 2016 (Saturdays) in order to facilitate General Public.

2. All Banks will accept Financial Instruments from their customers on 2nd and 9th July 2016 for Normal Clearing only and NIFT would be advised to collect / pick them from branches of commercial banks.
3. NIFT will process the financial instruments collected on 30th June, 2016 and 2nd July, 2016 in Normal Clearing Cycle of 4th July 2016. Once the instruments are cleared, the banks are required to credit respective customer accounts on 4th July, 2016.
4. The Financial Instruments collected / picked by NIFT on 4th and 9th July, 2016 would be processed by NIFT in Normal Clearing Cycle of 11th July 2016.
5. No Same Day Clearing would be processed on 2nd and 9th July 2016.

3. Please acknowledge receipt.