RTGS

Check IFSC Code Indian Directory

Finance - IFSC – Indian Financial System Code is an 11 digit alphanumeric code. IFSC code is used to detect the bank branch for any particular bank account. Let us learn about the denotation of each digit in an IFSC code finder. The first four digits in an IFSC code define the name of your bank. The […]...

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FAQ on Real Time Gross Settlement (RTGS) System

Finance - The acronym RTGS stands for Real Time Gross Settlement. RTGS system is a funds transfer mechanism where transfer of money takes place from one bank to another on a real time and on gross basis. This is the fastest possible money transfer system through the banking channel. Settlement in real time means payment transaction is not subjected...

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RBI to phase out high value clearing for Cheques drawn over 1 Lakh Rupees

Finance - High value clearing, the facility that enables depositors to encash cheques drawn for over Rs 1 lakh the next day, is set to be phased out. The Reserve Bank of India (RBI) has increased the minimum value for high value clearing to Rs 5 lakh from May. This will be increased further to Rs 10 […]...

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RBI decides to waive RTGS/NEFT Charges & will review ATM charges

Finance - Review of Charges for RBI-operated Payment Systems The Reserve Bank levies minimum charges on banks for transactions routed through its Real Time Gross Settlement System (RTGS) meant for large-value instantaneous fund transfers and the National Electronic Funds Transfer (NEFT) System for other fund transfers. Banks, in turn, levy charges ...

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RBI to upgrade high-value fund transfer system RTGS

Finance - The Reserve Bank plans to upgrade its high-value online fund transfer system RTGS to enable handling of up to 50 lakh transactions a day and incorporate various new facilities for the bank customers. RTGS (Real Time Gross Settlement) system facilitates online transfer of high-value funds between bank customers of different banks on real-t...

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RBI Asks Banks to Promote E-Payment Options

Finance - The Reserve Bank of India, or RBI, has told a bunch of top bank executives to push the use of electronic transactions among customers to trim the serpentine queues in front of teller counters despite lakhs of automated teller machines and net banking...

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RBI raises RTGS transfer limit to Rs 2 lakh

Finance - An amount to up to Rs 2 lakh can now be transferred through banks free of cost. The Reserve Bank of India has raised the threshold limit for real time gross settlement (RTGS) transactions from Rs 1 lakh to Rs 2 lakh and introduced a new value band fo...

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RBI to phase out high value clearing for Cheques drawn over 1 Lakh Rupees

Finance - High value clearing, the facility that enables depositors to encash cheques drawn for over Rs 1 lakh the next day, is set to be phased out. The Reserve Bank of India (RBI) has increased the minimum value for high value clearing to Rs 5 lakh from May. This will be increased further to Rs 10 […]...

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RBI announces launching of RTGS 24x7x365 wef 14.12.2020

Press Release: 2020-2021/748 - (09/12/2020) - RBI announced that RTGS will be available round the clock on all days of the year. Accordingly, RTGS 24x7x365 will be launched with effect from 00:30 hours on December 14, 2020....

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24×7 Availability of Real Time Gross Settlement (RTGS) System

RBI/2020-21/70 DPSS (CO) RTGS No.750/04.04.016/2020-21 - (04/12/2020) - i. RTGS shall be available for customer and inter-bank transactions round the clock, except for the interval between ‘end-of-day’ and ‘start-of-day’ processes, whose timings would be duly broadcasted through the RTGS system....

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RBI taken step to expand RTGS and NEFT facility to more banks

RBI/2011-12/489 DPSS.CO.OD. 1848 /06.07.003/2011-2012 - (09/04/2012) - Under the overall guidance of the Board for Payment and Settlement Systems, the Reserve Bank over the last few years, has been taking a number of steps to popularise the electronic payment systems in the country. In this connection, a reference is invited to circular DPSS.CO.OD.494/04.04.009/2011-20...

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Opening of Current Account and Subsidiary General Ledger Account with Reserve Bank and Membership of Indian Financial Network (INFINET) and Real Time Gross Settlement (RTGS) System

RBI/2010-11/277 UBD.BPD. (PCB).Cir. No.24/12.05.001/2010-11 - (16/11/2010) - In the Second Quarter Review of Monetary Policy of the Reserve Bank of India for the Year 2010-11, it was announced that Urban Co-operative Banks (UCBs) would be allowed current account and SGL account with the Reserve Bank as also membership of INFINET and RTGS. The relevant paragraph of the Review...

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Electronic Payment Products – Processing Inward Transactions based soley on Account Number Information

RBI/2010-11/271 UBD. BPD (PCB) No. 20 /12.05.001/2010-11 - (12/11/2010) - In this connection, we enclose a copy of the circular DPSS. (CO). EPPD. No.863 / 04.03.01 / 2010-11 dated October 14, 2010 issued by the Department of Payment and Settlement Systems of the Reserve Bank of India. All Primary (Urban) Co-operative Banks are advised to put in place appropriate systems ...

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Recent Posts in "RTGS"

Check IFSC Code Indian Directory

IFSC – Indian Financial System Code is an 11 digit alphanumeric code. IFSC code is used to detect the bank branch for any particular bank account. Let us learn about the denotation of each digit in an IFSC code finder. The first four digits in an IFSC code define the name of your bank. The […]...

Read More
Posted Under: Fema / RBI |

FAQ on Real Time Gross Settlement (RTGS) System

The acronym RTGS stands for Real Time Gross Settlement. RTGS system is a funds transfer mechanism where transfer of money takes place from one bank to another on a real time and on gross basis. This is the fastest possible money transfer system through the banking channel. Settlement in real time means payment transaction is not subjected...

Read More
Posted Under: Fema / RBI |

RBI announces launching of RTGS 24x7x365 wef 14.12.2020

Press Release: 2020-2021/748 09/12/2020

RBI announced that RTGS will be available round the clock on all days of the year. Accordingly, RTGS 24x7x365 will be launched with effect from 00:30 hours on December 14, 2020....

Read More

24×7 Availability of Real Time Gross Settlement (RTGS) System

RBI/2020-21/70 DPSS (CO) RTGS No.750/04.04.016/2020-21 04/12/2020

i. RTGS shall be available for customer and inter-bank transactions round the clock, except for the interval between ‘end-of-day’ and ‘start-of-day’ processes, whose timings would be duly broadcasted through the RTGS system....

Read More

United Bank of India NEFT / RTGS Excel Utility

United Bank of India NEFT / RTGS Utility for generating NEFT/RTGS Form at any time. You can add 2000 beneficiaries to the Form, hence when you need somebody’s Bank details in future,You can easily get it from this Form. Along with NEFT / RTGS form, you can Print respective cheque also. Now you are free […]...

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Posted Under: Fema / RBI |

Union Bank of India NEFT/RTGS Utility

Union Bank of India NEFT / RTGS Utility for generating NEFT/RTGS Form at any time. You can add 2000 beneficiaries to the Form, hence when you need somebody’s Bank details in future,You can easily get it from this Form. Along with NEFT / RTGS form, you can Print respective cheque also. Now you are free […]...

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Posted Under: Fema / RBI |

Karnataka Bank – NEFT/RTGS Excel Utility

Karnataka Bank NEFT / RTGS Utility for generating NEFT/RTGS Form at any time. You can add 2000 beneficiaries to the Form, hence when you need sombody’s Bank details in future,You can easily get it from this Form. Along with NEFT / RTGS form, you can Print respective cheque also. Now you are free from missing […]...

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Posted Under: Fema / RBI |

HDFC Bank – NEFT/ RTGS Form Excel Utility

HDFC Bank NEFT / RTGS Utility for generating NEFT/ RTGS Form at any time. You can add 2000 beneficiaries to the Form, hence when you need sombody’s Bank details in future,You can easily get it from this Form. Along with NEFT / RTGS form, you can Print respective cheque also. Now you are free from […]...

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Posted Under: Fema / RBI |

South Indian Bank – NEFT/ RTGS Excel Utility

Kindly upload the South Indian Bank – NEFT/ RTGS Excel Utility South Indian Bank NEFT / RTGS Utility for generating NEFT/RTGS Form at any time. You can add 2000 beneficiaries to the Form, hence when you need somebody’s Bank details in future,You can easily get it from this Form. Along with NEFT / RTGS form, you […]...

Read More
Posted Under: Fema / RBI |

RBI decides to waive RTGS/NEFT Charges & will review ATM charges

Review of Charges for RBI-operated Payment Systems The Reserve Bank levies minimum charges on banks for transactions routed through its Real Time Gross Settlement System (RTGS) meant for large-value instantaneous fund transfers and the National Electronic Funds Transfer (NEFT) System for other fund transfers. Banks, in turn, levy charges ...

Read More
Posted Under: Fema / RBI |

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