Banking News

RTGS time window w.e.f September 1, 2015


In view of 2nd and 4th Saturdays of the month declared as public holidays for banks with effect from September 1, 2015, there is a change in RTGS time window. Hereafter, transactions will not take place on 2nd and 4th Saturdays of the month. Further, the process of future value dated transactions under RTGS which falls on 2nd and 4th Saturdays of the month will not take place.The RTGS would operate for full day on working Saturdays (Saturdays other than 2nd and 4th Saturdays of the month).

The Reserve Bank through its circular dated September 1, 2015, said that the RTGS time window with effect from September 1, 2015 will be as under:

The window opens for Business at 08.00 hours. The customers’ transaction cut-off (Initial Cut-off) at 16.30 hours.The cut-off for Inter bank transaction (Final cut-off) at 19.45 hours.IDL reversal takes place between 19.45 hours to 20 hours. Day ends for RTGS at 20.00 hours.

 

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