RBI extends Timing for RTGS Transactions

With effect from 29.12.2014 RBI has extended the working hours for Weekdays / Regular Days  to 08.00 Am to 08.00 PM from existing 09.00 AM to 04.30 PM and it further extended the working hours for RTGS on Saturdays / Short Days to 08.00 Am to 03.30 PM from existing  09.00 AM to 02.00 PM. Related Notification is as follows :-

RBI/2014–15/352
DPSS (CO) RTGS No. 1064 / 04.04.002 / 2014-15

December 15, 2014

The Chairman / Managing Director / Chief
Executive Officer of participants of RTGS

Madam / Sir,

Extension of RTGS time window

It has been the endeavour of the Reserve Bank of India to keep enhancing the systems, procedures, etc. to meet the growing needs of the markets/ customers. The launch of the new RTGS system in October 2013 was one of the steps taken by the Bank for catering to the growing volume and to provide liquidity saving and other features of the new system to the members.

2. Of late there has been a market demand for extending business hours of the RTGS system to facilitate customer and inter-bank transactions as also to facilitate other market obligations to settle in the RTGS system. Accordingly, the RTGS business hours are being revised to meet the market expectation.

3. It has hence been decided to advance RTGS business hours to 8:00 hours from 9.00 hours and extend closing time of RTGS to 20.00 hours on week days. RTGS business window will be open from 8.00 hours to 15.30 hours on Saturdays.

4. In view of the above, the RTGS time window will be modified as under with effect from December 29, 2014:

5. This circular is issued under Section 10 (2) of Payment & Settlement Systems Act, 2007.

6. Please acknowledge receipt.

Yours faithfully,

Vijay Chugh
Principal Chief General Manager