RTGS FACILITY
RGTS system is a funds transfer mechanism where transfer of money takes place from one bank to another on a "real time" (no waiting period and transactions are settled as soon as they are processed) and on "gross" basis (transaction is settled on one-to-one basis without bunching with any other
transaction). This is the fastest possible money transfer system through the banking channel. The facility is being extended to more than 53,000 bank branches across the country. The RTGS system is primarily for large value transaction. The minimum amount to be remitted through this system is
Rs 1 lakh. According to central bank, the new RTGs cut-off timings would be from Monday to Friday, the customer transactions timings would be from 9.00 hours to 16.30 hours while that for
inter-bank transactions would be from 9.00 hours to 18.00 hours. On Saturday, the customer transaction and inter-bank transaction timing would be 9.00 hours to 12.30 hours and 9.00 hours to 14.30 hours, respectively.
transaction). This is the fastest possible money transfer system through the banking channel. The facility is being extended to more than 53,000 bank branches across the country. The RTGS system is primarily for large value transaction. The minimum amount to be remitted through this system is
Rs 1 lakh. According to central bank, the new RTGs cut-off timings would be from Monday to Friday, the customer transactions timings would be from 9.00 hours to 16.30 hours while that for
inter-bank transactions would be from 9.00 hours to 18.00 hours. On Saturday, the customer transaction and inter-bank transaction timing would be 9.00 hours to 12.30 hours and 9.00 hours to 14.30 hours, respectively.
0 comments:
Post a Comment