RTGS time limit extended till 6 pm

Gujarat Global News Network, Mumbai

The Reserve Bank of India (RBI) has extended the timings for customer transactions through Real Time Gross Settlement System (RTGS). The timings for customer transactions will be extended from 4:30 pm to 6 pm from June 1.

According to an RBI press release, there shall be no charge for transactions between 8 am and 11 am. A charge of  ₹. 2 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 and  ₹ 10 after 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.

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