RTGS

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...

Read More

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 […]...

Read More

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...

Read More

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...

Read More

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...

Read More

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 […]...

Read More

RBI Caps E-Payment Charges

Finance - The Reserve Bank of India (RBI) has capped fees charged by banks for electronic payment (e-payment) and collection of outstation cheques. The move is aimed at popularising electronic payments and discouraging higher charges levied by banks on customers....

Read More
Sorry No Post Found

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...

Read More

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...

Read More

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 ...

Read More

Electronic Funds Transfer Infrastructure in India – Usage of RTGS and NEFT

RBI/2010-11/265 DPSS (CO) RTGS No.1051/04.04.002/2010-2011 - (09/11/2010) - Based on requests received from the participant member banks, it is clarified that the revised customer charges for the transactions routed through RTGS are applicable for amounts starting from ` 2 lakhs and above....

Read More

Electronic payment products – Processing inward transactions based solely on account number information

RBI/2010-11/235, DPSS (CO) EPPD No. /863/04.03.01/2010-11 - (14/10/2010) - Banks are hereby advised to put in place appropriate systems and procedures to ensure compliance with the above prescriptions. The guidelines are issued under the powers vested with Reserve Bank of India under Section 10(2) of the Payment & Settlement Systems Act, 2007 and would come into effect fro...

Read More

Recent Posts in "RTGS"

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 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.494/04.04.009/2011-2012 dated September 21, 2011, in terms of...

Read More

RBI to upgrade high-value fund transfer system RTGS

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...

Read More
Posted Under: Fema / RBI |

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 is reproduced below....

Read More

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 and procedures to ensure compliance with...

Read More

Electronic Funds Transfer Infrastructure in India – Usage of RTGS and NEFT

RBI/2010-11/265 DPSS (CO) RTGS No.1051/04.04.002/2010-2011 (09/11/2010)

Based on requests received from the participant member banks, it is clarified that the revised customer charges for the transactions routed through RTGS are applicable for amounts starting from ` 2 lakhs and above....

Read More

RBI Asks Banks to Promote E-Payment Options

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...

Read More
Posted Under: Fema / RBI |

RBI raises RTGS transfer limit to Rs 2 lakh

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...

Read More
Posted Under: Fema / RBI |

Electronic payment products – Processing inward transactions based solely on account number information

RBI/2010-11/235, DPSS (CO) EPPD No. /863/04.03.01/2010-11 (14/10/2010)

Banks are hereby advised to put in place appropriate systems and procedures to ensure compliance with the above prescriptions. The guidelines are issued under the powers vested with Reserve Bank of India under Section 10(2) of the Payment & Settlement Systems Act, 2007 and would come into effect from January 1, 2011. The instructions woul...

Read More

RBI extends timing for RTGS transactions to 04.30 in evening

RBI/2009-10/265, DPSS (CO) RTGS No. 1313/ 04.04.002 / 2009–2010 (18/12/2009)

On a review of RTGS timings and the volume of business handled by RTGS on Saturdays, the RTGS Standing Committee has decided to extend RTGS timings for customer and inter-bank transactions on Saturdays. Accordingly, the revised time window for customer and interbank transactions in RTGS would be as follows:...

Read More
Page 1 of 212

Browse All Categories

CA, CS, CMA (3,481)
Company Law (3,398)
Custom Duty (6,603)
DGFT (3,446)
Excise Duty (4,043)
Fema / RBI (3,249)
Finance (3,454)
Income Tax (25,014)
SEBI (2,733)
Service Tax (3,280)

Search Posts by Date

September 2017
M T W T F S S
« Aug    
 123
45678910
11121314151617
18192021222324
252627282930