RTGS notification

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

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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 is reproduced below....

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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 and procedures to ensure compliance with...

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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....

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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...

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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:...

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RBI circular on RTGS Transactions to all banks participating in RTGS

RBI/2008-09/49-DPSS (CO) RTGS No. 2246/04.04.002/2008-2009 16/06/2009

It may be noted that field tag 7495 contains 6 lines and the RTGS participants are required to provide the minimum return information as stated above in the first three lines. Any additional information, in case an RTGS participant intends to provide, may do so in the subsequent three lines....

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