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Real Time Gross Settlement RTGS system: Increase in operating hours

RBI Notification DPSS (CO) RTGS No.364/04.04.016/2019-20 dated August 21, 2019 addressed to all the member banks participating in RTGS, is as under:—

A reference is invited to the circular DPSS (CO) RTGS No. 2488/04.04.016/2018-19 dated May 28, 2019 on ‘Real Time Gross Settlement (RTGS) System – Extension of Timings for Customer Transactions’.

2. At present, the RTGS system is available for customer transactions from 8:00 am to 6:00 pm and for inter-bank transactions from 8:00 am to 7:45 pm. In order to increase the availability of the RTGS system, it has been decided to extend the operating hours of RTGS and commence operations for customers and banks from 7:00 am.

3. The RTGS time window with effect from August 26, 2019 will, therefore, be as under:

Sr. No.

Event

Time

1.

Open for Business

07:00 hours

2.

Customer transactions (Initial Cut-off)

18:00 hours

3.

Inter-bank transactions (Final Cut-off)

19:45 hours

4.

IDL Reversal

19:45 hours - 20:00 hours

5.

End of Day

20:00 hours


4. This directive is issued under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act 2007 (Act 51 of 2007).

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