Extension in RTGS timings by RBI

Question: What is the new extended timing for the RTGS transactions approved by RBI?
(a) 4:30 pm
(b) 5 pm
(c) 5:30 pm
(d) 6 pm
Answer: (d)
Related facts:

  • The Reserve Bank of India (RBI) has announced an extension of timings for customer transactions through Real Time Gross Settlement (RTGS) by one and half hours from 4:30 PM to 06 PM.
  • The new timing will be effective from June 1, 2019.

RTGS:

  • The RTGS is an online fund transfer system, supported by the RBI, which enables high-value fund transfers on a real-time basis.
  • The minimum amount for the transaction under this system is Rs 2 lakh. There is no upper limit on the value of funds that can be transferred via the RTGS system.

Links:
http://ddnews.gov.in/business/rbi-extends-rtgs-timings-430-pm-6-pm

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