PSD Circular
Letter No. 06 of 2016 |
Sep 09, 2016 |
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:
- 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.
- NIFT will collect Financial Instruments from Banks’ Branches on September 10, 2016.
- Subsequently, NIFT will process these Financial Instruments collected in Normal Clearing Cycle on next business day i.e. September 15, 2016 (Thursday).
- Intercity Clearing will be processed as per existing practice.
- No Same-Day Clearing would be processed on September 10, 2016.
3. Please acknowledge receipt.
|
Yours sincerely,
Sd/-
(Syed Sohail Javaad)
Head of Department
|
|
|
|