RBI/2019-20/46
DPSS (CO) RTGS No.364/04.04.016/2019-20
August 21, 2019
The Chairman / Managing Director / Chief Executive Officer
of member banks participating in RTGS
Madam / Dear Sir,
Real Time Gross Settlement (RTGS) System – Increase in operating hours
A reference is invited to the circular DPSS (CO) RTGS No. 2488/04.04.016/2018-19 dated May 28, 2019 on ‘Real Time Gross Settlement (RTGS) System – Extension of Timings for Customer Transactions’.
2. At present, the RTGS system is available for customer transactions from 8:00 am to 6:00 pm and for inter-bank transactions from 8:00 am to 7:45 pm. In order to increase the availability of the RTGS system, it has been decided to extend the operating hours of RTGS and commence operations for customers and banks from 7:00 am.
3. The RTGS time window with effect from August 26, 2019 will, therefore, be as under:
| Sr. No. | Event | Time |
| 1. | Open for Business | 07:00 hours |
| 2. | Customer transactions (Initial Cut-off) | 18:00 hours |
| 3. | Inter-bank transactions (Final Cut-off) | 19:45 hours |
| 4. | IDL Reversal | 19:45 hours – 20:00 hours |
| 5. | End of Day | 20:00 hours |
4. This directive is issued under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act 2007 (Act 51 of 2007).
Yours faithfully,
(P Vasudevan)
Chief General Manager