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Changes in RTGS time with effect from 01/09/2015 - All About Finance

Changes in RTGS time with effect from 01/09/2015

December 31, 2015September 1, 2015 by Taxclick Team

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

This is the team of the finance profession who, update the site on daily basis. The team is also responsible for giving the update as earliest and also give the timely reply to the quires asked by the visitors. The team can be reached at info@taxclick.org.

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