image

Changes in RTGS time window

RBI/2015-16/168
DPSS (CO) RTGS No.492/04.04.002/2015-16

September 1, 2015

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

Madam / Sir,

Changes in RTGS time window

A reference is invited to the Reserve Bank of India press release number 2015-2016/528 dated August 28, 2015 on Bank Holiday on Second & Fourth Saturdays from September 1; RBI to offer its Support Services to Banks on Working Saturdays.

2. Accordingly, RTGS will not be operated on second and fourth Saturdays but would operate for full day on working Saturdays. Processing of future value dated transactions with value date falling on second and fourth Saturdays will not be undertaken under RTGS.

3. The RTGS time window with effect from September 1, 2015 will be as under:

Sr. No. Time Event Regular days including Saturdays, except Second and Fourth Saturdays of the Month
1. Open for Business 08:00 hours
2. Initial Cut-off (Customer transactions) 16:30 hours
3. Final Cut-off (Inter-bank transactions) 19:45 hours
4. IDL Reversal 19:45 hours – 20:00 hours
5. End of Day 20:00 hours

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

5. Please acknowledge receipt.

Yours faithfully,

Nilima Ramteke
General Manager

profile image

About eMinds Legal

eMinds Legal

eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

Corporate Law Referencer

Recent Articles

Recent Legal updates

Recent Gst Updates