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:
|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).
Chief General Manager