The Reserve Bank of India (RBI) has decided to extend the RTGS (Real Time Gross Settlement) timings by one and a half hours from 4:30 pm to 6:00 pm. The new RTGS service window for customer transactions will be available to banks from 8 am to 6 pm on a working day and the final cut-off for inter-bank transactions will be 7:45 pm. The RTGS system is primarily meant for large value transactions and the minimum amount to be remitted through RTGS is Rs. 2 lakh with no upper or maximum ceiling.
Charges for outward RTGS transactions (excluding tax) will be –
|RTGS Timings||RTGS Charges|
|Between 8 am and 11 am||No charges|
|Between 11 am and 1 pm||Rs 2 per transaction|
|Between 1 pm and 6 pm||Rs 5 per transaction|
|After 6 pm||Rs 10 per transaction|