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Extension of RTGS time window to 8 pm

Posted on 16 December 2014,    
 20760    Share  Report

RBI/2014–15/352
DPSS (CO) RTGS No. 1064 / 04.04.002 / 2014-15

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

Madam / Sir,

Extension of RTGS time window

It has been the endeavour of the Reserve Bank of India to keep enhancing the systems, procedures, etc. to meet the growing needs of the markets/ customers. The launch of the new RTGS system in October 2013 was one of the steps taken by the Bank for catering to the growing volume and to provide liquidity saving and other features of the new system to the members.

2. Of late there has been a market demand for extending business hours of the RTGS system to facilitate customer and inter-bank transactions as also to facilitate other market obligations to settle in the RTGS system. Accordingly, the RTGS business hours are being revised to meet the market expectation.

3. It has hence been decided to advance RTGS business hours to 8:00 hours from 9.00 hours and extend closing time of RTGS to 20.00 hours on week days. RTGS business window will be open from 8.00 hours to 15.30 hours on Saturdays.

4. In view of the above, the RTGS time window will be modified as under with effect from December 29, 2014:

S. No.

Daily Events

Timing on Weekdays / Regular Days

Timing on Saturdays / Short Days

1.

Open for Business

08:00 hours

08:00 hours

2.

Initial Cut-off

16:30 hours

14:00 hours

3.

Final Cut-off

19:45 hours

15:00 hours

4.

IDL Reversal

19:45 hours – 20:00 hours

-

5.

End of Day

20:00 hours

15:30 hours

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

6. Please acknowledge receipt.

Yours faithfully,

Vijay Chugh
Principal Chief General Manager

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