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RBI will Charge Rs 5 Per RTGS Between 1 PM To 6 PM

Reserve Bank of India has introduced some sweeping changes to the RTGS or Real-time gross settlement transactions. A premium fee of Rs 5 has been introduced, even as the time period for RTGS has been extended.

RTGS Fees Revised, Time Extended :-

As per a press release by RBI, it has been informed that the RTGS time period has now been extended from 4.30 PM to 6 PM.

Besides, the Inter-bank transactions (Final Cut-off) timing has been extended to 7.45 PM.

RTGS time window will start as usual from 8 AM, and end at 8 PM.

Besides this, RBI has revised the charges under RTGS transactions, for the customers, and the bifurcation of the charges are based on the time, not the amount.

From 8 AM to 11 AM, there shall be no charges at all.

From 11 AM to 1 PM, there will be a charge of Rs 2 per transaction.

From 1 PM to 6 PM, there will be a charge of Rs 5 per transaction.

After 6 PM, Rs 10 shall be charged for each transaction.

1 PM to 6 PM slot is the busiest one for businesses, and maybe this is the reason RBI as decided to levy a charge of Rs 5, per RTGS transaction.

RTGS transactions are done for big amounts, and used for money transfer between banks, in real time.


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