New Delhi:The rule of real time gross settlement system (RTGS) facility is going to change in the country from 14 December. RTGS facility will be available 24 hours a day, seven days from 12.30 pm tonight (14 December). That is, customers will be able to transact money with this facility anytime, 365 days of the year. This information has been given by Reserve Bank of India Governor Shaktikanta Das via tweet. After the implementation of 24 × 7 RTGS, India will join some countries where this facility is available 24 hours and seven days.
Right now money can be transacted from 7 am to 6 pm on all working days of the week except the second and fourth Saturday of the month through the RTGS system. At present, there are 6.35 lakh transactions daily between 237 banks in the country through RTGS, whose value is 4.17 lakh crore rupees. The average ticket size for RTGS in November 2020 was Rs 57.96 lakh.
RTGS can be used through both online and bank branch channels. Funds can be transferred immediately through this. It is used in large transactions. Amounts below Rs 2 lakh cannot be transferred at a time through RTGS. At the same time, the maximum amount is different in different banks.
