Now the customers will get more time to make the payments through RTGS. It has been reported that the Reserve Bank of India has asked the banks to increase the hours for RTGS transactions. The banks are been asked to provide the working hours for RTGS from 8am to 8 pm.
Further on the weekend i.e. Saturday the bank will provide the RTGS service from 8 in the morning till 5:30 in the evening. At present the RTGS service is available to banks from 9.00 hours to 16.30 hours on week days and from 9.00 hours to 14:00 hours on Saturdays. The new timing will be in effect from 29th of December.
The minimum amount to be remitted through RTGS is Rs. 2 lakh with no upper limit. Seeing the market demand the RBI has planned to extend the RTGS hours.