{"id":218514,"date":"2019-08-22T18:15:09","date_gmt":"2019-08-22T12:45:09","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=218514"},"modified":"2019-08-23T22:25:14","modified_gmt":"2019-08-23T16:55:14","slug":"real-time-gross-settlement-rtgs-system-increase-in-operating-hours","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/22\/real-time-gross-settlement-rtgs-system-increase-in-operating-hours\/","title":{"rendered":"Real Time Gross Settlement (RTGS) System \u2013 Increase in operating hours"},"content":{"rendered":"<p style=\"text-align: justify;\">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. <span style=\"color: #ff0000;\">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.<\/span><\/p>\n<p style=\"text-align: justify;\">The RTGS time window with effect from <span class=\"head\">August 26, 2019,<\/span>\u00a0will, therefore, be as under:<\/p>\n<table class=\"tablebg\" border=\"0\" width=\"70%\" cellspacing=\"1\" cellpadding=\"0\" align=\"center\">\n<tbody>\n<tr class=\"head\">\n<td align=\"center\" width=\"11%\">Sr. No.<\/td>\n<td align=\"center\" width=\"53%\">Event<\/td>\n<td align=\"center\" width=\"36%\">Time<\/td>\n<\/tr>\n<tr>\n<td align=\"center\">1.<\/td>\n<td>Open for Business<\/td>\n<td align=\"center\">07:00 hours<\/td>\n<\/tr>\n<tr>\n<td align=\"center\">2.<\/td>\n<td>Customer transactions (Initial Cut-off)<\/td>\n<td align=\"center\">18:00 hours<\/td>\n<\/tr>\n<tr>\n<td align=\"center\">3.<\/td>\n<td>Inter-bank transactions (Final Cut-off)<\/td>\n<td align=\"center\">19:45 hours<\/td>\n<\/tr>\n<tr>\n<td align=\"center\">4.<\/td>\n<td>IDL Reversal<\/td>\n<td align=\"center\">19:45 hours &#8211; 20:00 hours<\/td>\n<\/tr>\n<tr>\n<td align=\"center\">5.<\/td>\n<td>End of Day<\/td>\n<td align=\"center\">20:00 hours<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: justify;\">This directive is issued under Section 10 (2) read with Section 18 of the Payment and Settlement Systems Act 2007.<\/p>\n<hr \/>\n<p>RBI\/2019-20\/46<br \/>\nDPSS (CO) RTGS No.364\/04.04.016\/2019-20<\/p>\n<p style=\"text-align: right;\"><strong>Notification dt. 21-08-2019<\/strong><\/p>\n<p style=\"text-align: right;\"><strong>Reserve Bank of India<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 <\/p>\n","protected":false},"author":8808,"featured_media":108541,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[37219,37218],"class_list":["post-218514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-notifications","tag-increase-in-operating-hours","tag-rtgs-system"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Real Time Gross Settlement (RTGS) System \u2013 Increase in operating hours | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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2019","format":false,"excerpt":"\u2018Changes in RTGS time window\u2019 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\u00a0June 01, 2019 has been stated in the official notification to which the link is given below.\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":240620,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/12\/14\/rbi-india-becomes-one-of-the-few-countries-in-the-world-to-operate-its-rtgs-system-round-the-clock-throughout-the-year\/","url_meta":{"origin":218514,"position":1},"title":"RBI | India becomes one of the few countries in the world to operate its RTGS system round the clock throughout the year","author":"Bhumika Indulia","date":"December 14, 2020","format":false,"excerpt":"Reserve Bank had announced in the\u00a0Statement on Developmental and Regulatory Policies dated October 09, 2020, that the Real Time Gross Settlement System (RTGS) will be available round the clock on all days of the year. Accordingly, RTGS 24x7x365 was launched with effect from 00:30 hours on December 14, 2020. India\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":216351,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/07\/02\/rbi-neft-and-rtgs-charges-to-be-wived-off\/","url_meta":{"origin":218514,"position":2},"title":"RBI | NEFT and RTGS charges to be waived off","author":"Bhumika Indulia","date":"July 2, 2019","format":false,"excerpt":"National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) systems \u2013 Waiver of charges The Reserve Bank has since reviewed the various charges levied by it on the member banks for transactions processed in the RTGS and NEFT systems. In order to provide an impetus to digital funds\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":241938,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/01\/08\/rbi-introduces-legal-entity-identifier-for-large-value-transactions-in-centralised-payment-systems\/","url_meta":{"origin":218514,"position":3},"title":"RBI introduces Legal Entity Identifier for Large Value Transactions in Centralised Payment Systems","author":"Bhumika Indulia","date":"January 8, 2021","format":false,"excerpt":"Legal Entity Identifier The Legal Entity Identifier (LEI) is a 20-digit number used to uniquely identify parties to financial transactions worldwide. It was conceived as a key measure to improve the quality and accuracy of financial data systems for better risk management post the Global Financial Crisis. \u00a0LEI has been\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":6445,"url":"https:\/\/www.scconline.com\/blog\/post\/2015\/01\/28\/only-drawee-bank-to-be-considered-in-cheque-bounce-offences\/","url_meta":{"origin":218514,"position":4},"title":"Only drawee bank to be considered in cheque bounce offences","author":"Sucheta","date":"January 28, 2015","format":false,"excerpt":"Bombay High Court: Dismissing a plea in a\u00a0 cheque bounce case, a bench comprising of S.B. Shukre, J held that only drawee bank's jurisdiction could be considered during criminal proceedings under Section 138 of Negotiable Instruments\u00a0 Act, 1881, even though the Real Time Gross Settlement (RTGS) system facility enabled the\u2026","rel":"","context":"In &quot;High Courts&quot;","block_context":{"text":"High Courts","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/highcourts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":288162,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/tax-due-repayment-benefit-scheme-penalty-calcutta-high-court-writ-petition-allowed-refund-legal-research-news-scc-blog\/","url_meta":{"origin":218514,"position":5},"title":"Party cannot be held liable for failure of bank in sending money by RTGS; Calcutta High Court directs to issue discharge certificate","author":"Ritu","date":"March 30, 2023","format":false,"excerpt":"The Calcutta High Court quashed the imposition and recovery of penalty by the respondent authorities and directed them to refund the penalty amount and issue discharge certificate in favour of the petitioners.","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Calcutta High Court","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-604.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-604.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-604.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-604.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/218514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=218514"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/218514\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/108541"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=218514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=218514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=218514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}