The Reserve Bank of India Governor Shaktikanta Das today announced that the Real-Time Gross Settlement (RTGS) system will be very soon available for customers 24×7.
As of now, the RTGS is available for the users from 7 am to 6 pm on all working days of a week. It remains unavailable except on second and fourth Saturdays of every month for customers.
The minimum amount to be transferred through RTGS is Rs 2 lakh with no maximum limit.
It was earlier reported by several media houses that the news development of making RTGS 24X7 will be available from December 1 but today the announcement of initiating the change is to be announced in new few days.
A few days ago RBI Governor Shaktikanta Das said, “To support the ongoing efforts aimed at global integration of Indian financial markets, facilitate India’s efforts to develop international financial centres and to provide wider payment flexibility to domestic corporate and institutions, it has been decided to make RTGS available round-the-clock on all days”.
