RBI/2018-19/189
DPSS (CO) RTGS No. 2488/04.04.016/2018-19

May 28, 2019

The Chairman / Managing Director / Chief Executive Officer
of member banks participating in RTGS

Madam / Dear Sir,

Real Time Gross Settlement (RTGS) System – Extension of Timings for Customer Transactions

A reference is invited to circular DPSS (CO) RTGS No.492/04.04.002/2015-16 dated September 1, 2015 on ‘Changes in RTGS time window’ and circular DPSS (CO) RTGS No.1926/04.04.002/2015-16 dated February 4, 2016 on ‘RTGS service charges for members and customers - Rationalisation’.

2. It has been decided to extend the timings for customer transactions (initial cut-off) in RTGS from 4:30 pm to 6:00 pm. Accordingly, the RTGS time window with effect from June 01, 2019 will be as under:

Sr. No.	Event	Time
1.	Open for Business	08:00 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

3. The time-varying charges for transactions in RTGS from 13:00 hours to 18:00 hours shall be ₹ 5 per outward transaction. The time varying charges structure is as under:

Sr. No.	Time of Settlement at the Reserve Bank of India		Time varying charge per outward transaction (in addition to flat processing charge) (exclusive of tax, if any)
	From	To
1	08:00 hours	11:00 hours	Nil
2	After 11:00 hours	13:00 hours	₹ 2.00
3	After 13:00 hours	18:00 hours	₹ 5.00
4	After 18:00 hours		₹ 10.00

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,

(Sangeeta Lalwani)

General Manager (Officer in Charge)

RTGS timing extension expands customer transaction window and updates time-varying charges for outward transfers from banks. With effect from June 1, 2019, the RTGS customer transaction initial cut-off is extended to 18:00 hours while business opens at 08:00 hours, inter-bank final cut-off remains at 19:45 hours, IDL reversal is 19:45-20:00 hours and end-of-day is 20:00 hours. A graded time-varying charge schedule for outward transactions applies across settlement-time bands, payable in addition to the flat processing charge and exclusive of taxes.