RBI/2011-12/489 DPSS.CO.OD. 1848 /06.07.003/2011-2012 -
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...
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...
RBI/2010-11/277 UBD.BPD. (PCB).Cir. No.24/12.05.001/2010-11 -
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....
RBI/2010-11/271 UBD. BPD (PCB) No. 20 /12.05.001/2010-11 -
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...
RBI/2010-11/265 DPSS (CO) RTGS No.1051/04.04.002/2010-2011 -
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....
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...
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...
RBI/2010-11/235, DPSS (CO) EPPD No. /863/04.03.01/2010-11 -
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...
RBI/2009-10/265, DPSS (CO) RTGS No. 1313/ 04.04.002 / 2009–2010 -
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:...
RBI/2008-09/49-DPSS (CO) RTGS No. 2246/04.04.002/2008-2009 -
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....