From next month, i.e. from December 1, a rule related to banking will be changed. Meanwhile, this changing rule will also be of great benefit to consumers. Real Time Gross Settlement (RTGS) facility will be available 24 hours from next month. Customers will be able to send money anytime through RTGS for 365 days.
In October, the RBI had decided to make the RTGS facility 24 hours a day. The RBI had said that India would be one of the few countries in the world to have a 24 * 7 * 365 large value real time payment system after the launch of the facility 24 hours a day. Currently RTGS is available from 7 am to 6 pm on all working days except 2nd and 4th Saturdays and all Sundays.
Helps to send money quickly through RTGS. This facility is mainly used for sending large amount of money. The remittance limit for different banks is different. Earlier, in December 2019, the rules relating to Electronic Funds Transfer (NEFT) were changed. 24 * 7 * 365 facility is available for customers from last year. There is no minimum limit on remittances sent by NEFT. Also the ceiling depends on different banks.
First Published on November 24, 2020 2:38 pm
Web Title: rtgs service will be available 24 hours all day from december 1 you can do anytime rtgs rule change neft changed before rbi jud 87
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