Legal UpdatesRBI

RBI extends RTGS timings for Customers transaction, mentions time-varying charges

RBI Updates

RBI extends timings for customer transactions (initial cut-off) in Real Time Gross Settlement (RTGS)  from 4:30 pm to 6:00 pm. The extension of timing will be effective from June 01, 2019.

Below are the changes in the timing of the RTGS time window :-

Sr. No.

Event

Time

1.

Open for Business

08:00 hours

2.

Customer transactions (Initial Cut-off)

18:00 hours (6 pm)

3.

Inter-bank transactions (Final Cut-off)

19:45 hours (7:45pm)

4.

IDL Reversal

19:45 hours – 20:00 hours

(7:45pm – 8 pm)

5.

End of Day

20:00 hours (8 pm)

Further, RBI has also mentioned the time-varying charges for transactions in RTGS. Below are the time varying charges structure :-

Sr. No. Time of Settlement at the Reserve Bank of India Time varying charge per outward transaction
(in addition to flat processing charge) (exclusive of tax, if any)
From To
1 08:00 hours 11:00 hours Nil
2 After 11:00 hours 13:00 hours ₹ 2.00
3 After 13:00 hours 18:00 hours ₹ 5.00
4 After 18:00 hours ₹ 10.00
Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *