Deepak Gupta | May 30, 2019 |
RBI extends RTGS timinings from 1630 to 1800 hours from June 1st 2019
RBI/2018-19/189
DPSS (CO) RTGS No. 2488/04.04.016/2018-19
May 28, 2019
The Chairman / Managing Director / Chief Executive Officer
of member banks participating in RTGS
Madam / Dear Sir,
Real Time Gross Settlement (RTGS) System Extension of Timings for Customer Transactions
A reference is invited tocircular DPSS (CO) RTGS No.492/04.04.002/2015-16 dated September 1, 2015on Changes in RTGS time window andcircular DPSS (CO) RTGS No.1926/04.04.002/2015-16 dated February 4, 2016on RTGS service charges for members and customers – Rationalisation.
2. It has been decided to extend the timings for customer transactions (initial cut-off) in RTGS from 4:30 pm to 6:00 pm. Accordingly, the RTGS time window with effect fromJune 01, 2019will be as under:
| Sr. No. | Event | Time |
| 1. | Open for Business | 08:00 hours |
| 2. | Customer transactions (Initial Cut-off) | 18:00 hours |
| 3. | Inter-bank transactions (Final Cut-off) | 19:45 hours |
| 4. | IDL Reversal | 19:45 hours – 20:00 hours |
| 5. | End of Day | 20:00 hours |
3. The time-varying charges for transactions in RTGS from 13:00 hours to 18:00 hours shall be 5 per outward transaction. The time varying charges structure is as under:
| 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 | |
4. This directive is issued under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act 2007 (Act 51 of 2007).
Yours faithfully,
(Sangeeta Lalwani)
General Manager (Officer in Charge)
In case of any Doubt regarding Membership you can mail us at [email protected]
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