RTGS Timings extended

RTGS Timings extended

Good news for RTGS customers.  From June 1, customers will be able to transfer funds through the Real Time Gross Settlement (RTGS) system till 6 pm as against to 4:30 pm now.  The final cut-off for inter bank transactions will be 7:45 pm.

  1. The RBI has announced that the time window for RTGS system will be extended by one-and-a-half hour for bank customers.
  2. Under RTGS, there is a continuous and real-time settlement of fund transfers, individually on a transaction-by-transaction basis (without netting).
  3. The RTGS transactions will now take place under three windows during the day—8 am to 11 am; 11 am to 1 pm; and 1pm to 6 pm.
  4. While customers who conduct transactions in the first window won’t have to pay any additional fee over and above the fixed processing charge, the second and third window users will have to pay an additional Rs 2and Rs 5, respectively.
  5. The banks normally charge between Rs 30 and Rs 55 for a single RTGS transaction. From 11 am to 1 pm the transaction charge will be Rs 2 while after 6 pm the charge will be Rs 10.
  6. The three most commonly used fund transfer methods in India are NEFT (National Electronic Funds Transfer), RTGS and IMPS (Immediate Mobile Payment Service). The RTGS system is primarily meant for high value transactions.
  7. The minimum amount to be remitted through RTGS is Rs 2 lakh, with no maximum limit. In RTGS, the transfer is instantaneous. NEFT operates in hourly batches.
  8. While the timings may vary slightly from bank to bank, NEFT transactions are less restrictive when it comes to timing.


  • On the same lines, IMPS is an instant fund transfer service, like RTGS, but it typically caters to fund transfers of lower amounts.
  • The maximum amount one can transfer through IMPS is Rs 2 lakh.

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