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. 29 dated 5th September 2016 regarding opening of Banks’ Branches on Saturday, September 10, 2016.

2. In this regard, the following modus-operandi has been decided for collection of Financial Instruments from Banks’ Branches:

1. The branches of Commercial Banks and Micro Finance Banks will accept Financial Instruments from their customers on 10th September 2016 for Normal and Intercity Clearing only.
2. NIFT will collect Financial Instruments from Banks’ Branches on September 10, 2016.
3. Subsequently, NIFT will process these Financial Instruments collected in Normal Clearing Cycle on next business day i.e. September 15, 2016 (Thursday).
4. Intercity Clearing will be processed as per existing practice.
5. No Same-Day Clearing would be processed on September 10, 2016.

3. Please acknowledge receipt.