RBI advances timing for RTGS business hours

“It has hence been decided to advance RTGS business hours to from and extend closing time of RTGS to on week days.RTGS business window will be open from hours to on Saturdays,” RBI said in a notification.

The new working hours will be with effect from December 29, 2014.

Extension of RTGS time window

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

December 15, 2014

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

Madam / Sir,

Extension of RTGS time window

1. 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

TAGS: RBI advances timing for RTGS business hours, rbi, RBI RTGS timing, RBI RTGS Timing Changes,

To Download official Notification Click Here