Full day RTGS/NEFT on working Saturday upto 07:45 PM

The Reserve bank of India made some changes in RTGS/NEFT timings as there will be bank's off on second and fourth Saturday from 1 September 2015. So RTGS/NEFT will be on full day on working Saturday. RBI issued a note no. 02/2015-16 dated 1 September 2015 about new timings of RTGS/NEFT. Full note is as under.

A reference is invited to the Reserve Bank of India press release number 2015-2016/528 dated August 28, 2015 on “Bank Holiday on Second & Fourth Saturdays from September 1; RBI to offer its Support Services to Banks on Working Saturdays”.

2. Accordingly, RTGS will not be operated on second and fourth Saturdays but would operate for full day on working Saturdays. Processing of future value dated transactions with value date falling on second and fourth Saturdays will not be undertaken under RTGS.

3. The RTGS time window with effect from September 1, 2015 will be as under:
Sr. No.Time EventRegular days including Saturdays, except Second and Fourth Saturdays of the Month
1.Open for Business08:00 hours
2.Initial Cut-off (Customer transactions)16:30 hours
3.Final Cut-off (Inter-bank transactions)19:45 hours
4.IDL Reversal19:45 hours - 20:00 hours
5.End of Day20:00 hours
4. This circular is issued under Section 10 (2) of Payment & Settlement Systems Act, 2007.

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