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RTGS
May 30 , 2019
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- To facilitate high-value fund transfers, the RBI has announced an extension of timings for customer transactions through “Real Time Gross Settlement (RTGS)”.
- From June 1, 2019 the transaction timings are extended by one and half hours - 4:30 PM to 06 PM.
- ‘Real Time’ means the processing of instructions at the time they are received.
- ‘Gross Settlement’ means that the settlement of funds transfer instructions occurs individually not in batches unlike NEFT.
- There is “No upper limit” on the value of funds that can be transferred via the RTGS system.
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