We Design Your Financial Destiny


(Precious) Words of Wisdom : "The art is not in making money, but in keeping it." ~ Proverb

RBI Extends The RTGS Timings

The Reserve Bank of India, has vide its notification Real Time Gross Settlement (RTGS) System – Extension of Timings for Customer Transactions dated May 28, 2019, has extended the RTGS timings.

The extended timings for customer transactions (initial cut-off) in RTGS will be 6:00 pm as against 4:30 pm at present.

Accordingly, the revised RTGS timings will be as under:

rtgs-extended-timings

RTGS or Real Time Gross Settlement is a commonly used system for online funds transfer for high-value transactions. The minimum amount that can be transferred under RTGS is Rs.2 lakhs. There is no maximum limit

The time-varying charges for transactions in RTGS from 13:00 hours to 18:00 hours shall be Rs.5 per outward transaction.

The revised time varying charges structure is as under:

rtgs-time-varying-charge

The new RTGS timings will be effective from June 1, 2019.

RBI has fixed the maximum charges that the banks can levy their customers, if they so desire, for RTGS transfers. These are as under:
a. Inward transactions - Free
b. Outward transactions
   Rs.2 lakh to Rs.5 lakh - Rs.25 + applicable time varying charge, subject to a max of Rs.30/-.
   Above Rs.5 lakh - Rs.50 + applicable time varying charge, subject to a max of Rs.55/-.

An Investment In Knowledge Pays The Best Interest ~ Benjamin Franklin

101 Classic Tips Money Gyaan

You Learn A Lot By READING... And Even More By SHARING.

Share Button

Ignorance is like a SIGNED BLANK CHEQUE... anyone can MISUSE it.

Subscribe via Email
Powered by Blogger.

... Three VALUABLE Tips ...

1. Why Did The Beggar Refuse A Rs.2000 Note?
Mutual Funds or Beggar?
Do you keep your eyes closed to new investment styles and remain a beggar?

 


2. Refinance Home Loan In Early Years (For Maximum Gains)
Loan Refinancing
Think before you make your move to refinance your loan.

 


3. Prediction is Impossible. Here's The Best Way To Invest In Equity.
Equity Investing Rules
Therefore, the best way to make money in the future is Protection.