New RTGS Rules – 5 Important Facts You Must Know!
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New RTGS Rules – 5 Important Facts You Must Know!

RBI just changed their policy on RTGS transfers. These transfers help people, merchants and many entities in settling cash transfers in real time.

  1. For those who don’t know, RTGS settlements are usually made for high value transactions. The minimum amount to be transmitted here is 2 lakh rupees with no limit on the maximum amount.

 

  1. Earlier, RTGS transactions were only allowed until 4.30 pm. Soon, this timing will be extended to 6pm.

 

  1. As of June 1, RTGS timings will be updated to 6pm. This will be applicable from June 1. The final cut off for inter bank transactions will be 7.45pm.

 

  1. The transactions will take place under 3 windows; 8 am to 11 am, 11 am to 1 pm and 1 pm to 6 pm. The additional fees for the second and third window will be fixed at 2 and 5 rupee per transaction respectively.

 

  1. Transactions after 6 pm which are for Inter-bank transactions will be charged 10 rupees per transaction.

 

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