New RTGS timings: Check details here

New Delhi, Aug 22: In the view of promoting digital transactions, RBI announced a change in the RTGS money transfer timings.

The Real Time Gross Settlement (RTGS) system timings have been extended by one hour in order to help the customers.

The present timings for the RTGS system are 8.00 am to 6.00pm. However, now one can transfer money through the RTGS system 7.00 am onwards.

New RTGS timings with effect from August 26th 2019 is as follows

• Open for Business- 7.00 am
• Customer transaction (Initial Cut-off)- 6.00 pm
• Inter-bank transactions (Final Cut-off)- 7.45 pm
• Intra-day liquidity (IDL) Reversal- 7.45 pm to 8.00 pm
• End of Day- 8.00 pm

Important things to know about RTGS

• RTGS transactions happen in real time.
• RTGS transactions are mainly meant for high-value transcations. The minimum amount for remittal is Rs 2 lakh with no maximum limit.
• RTGS money transfer timings from August 26th, 2019 will between 7.00 am to 6.00 pm and for intra-bank transactions the timings are between 8.00 am to 7.45 pm.

In a bid to promote digital transactions earlier this month RBI also allowed 24 hours money transfer through NEFT service.