Come 1 June, RBI to extend timings for RTGS transactions from 4:30 pm to 6 pm1 min read . Updated: 28 May 2019, 09:04 PM IST
- Transactions will now take place under three windows: 8 am to 11 am, 11 am to 1 pm and 1 pm to 6pm
- ₹5 shall be charged for every transaction between 1 pm and 6 pm
New Delhi: The Reserve Bank of India on Tuesday announced that from 1 June, the time-window for using the Real Time Gross Settlement System for customer transactions will be extended from 4:30 pm to 6 pm.
According to an RBI press release, there shall be no charge for transactions between 8 am and 11 am. A charge of will be levied on every transaction conducted between 11 am and 1 pm.
₹5 shall be charged for every transaction between 1 pm and 6 pm.
The RTGS system is primarily meant for large value transactions. The minimum amount to be remitted through RTGS is ₹2 lakh with no upper or maximum ceiling.