RBI decided to extend the timings for customer transactions (initial cut-off) in RTGS from 4:30 pm to 6:00 pm with effect from June 01, 2019.
DPSS (CO) RTGS No. 2488/04.04.016/2018-19
Date: 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 to circular DPSS (CO) RTGS No. 492/04.04.002/2015-16 dated September 1, 2015 on ‘Changes in RTGS time window’ and circular DPSS (CO) RTGS No. 1926/04.04.002/2015-16 dated February 4, 2016 on ‘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 from June 01, 2019 will be as under:
|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)
|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).
General Manager (Officer in Charge)