New RTGS Timings on Saturdays

New RTGS Timings on Saturdays

In January 2009, Reserve Bank of India, extended the timings for RTGS Transactions.
Continuing this tradition, Reserve Bank of India, has further modified the RTGS timings for Saturdays w.e.f 11/12/2009.


         Existing                                                       New
 Saturday RTGS Timings                  Saturday RTGS Timings
Customer        12.30pm                            Customer    1.30pm

Inter-Bank          2.30pm                          Inter-Bank    3.00pm

   
The RTGS Customers timings have been extended by an hour. Folks may say, what is the use of extension of timings, as most of the Bank Branches function only for half-day on Saturdays and majority of the Bank Branches close by 12.30pm.

But through Internet Banking, the transactions can be executed by the customers themselves. So, the extended timings are a benefit only. Initially the volumes in the extended hour might be low, but once the customers get used to the new timings, the volumes will surely increase.

This is a precursor to new timings on Weekdays too, which might be announced in the next couple of months.