Real Time Gross Settlement (RTGS) System – Increase in operating hours

By | August 23, 2019
(Last Updated On: August 23, 2019)

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.EventTime
1.Open for Business07:00 hours
2.Customer transactions (Initial Cut-off)18:00 hours
3.Inter-bank transactions (Final Cut-off)19:45 hours
4.IDL Reversal19:45 hours – 20:00 hours
5.End of Day20:00 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

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