Real Time Gross Settlement (RTGS) - Increase in operating hours: Fin Min (CGA) OM

Real Time Gross Settlement (RTGS) - Increase in operating hours: Fin Min (CGA) OM

Real Time Gross Settlement (RTGS) - Increase in operating hours: Fin Min (CGA) OM

Office of the Controller General of Accounts 

Ministry of Finance

Department of Expenditure 

Mahalekha Niyantrak Bhawan 

E Block, INA, New Delhi

No. S-11012/2/3(17)/RBl/2015/GBA/1468-1512 

Dated: 28th August 2019

Office Memorandum

Sub:- RTGS systems - increase in operating hours

Please find enclosed herewith a letter No. DGBA. GBD. 438/41.07.001/2019-20 dated August 26, 2019 alongwith its annexure regarding increase in the operating hours of Real Time Gross Settlement (RTGS) with effect from August 26, 2019 received from Department of Government and Banks Accounts, Reserve Bank of India, Mumbai for information and necessary action.

Sd/-

(Hanumaiah.K) 

Deputy Controller General of Accounts (AR&GBA)

RESERVE BANK OF INDIA

www.rbi.org.in

DGBA.GBD.No. 438/41.07.001/2019-20 

August 26, 2019

The Controller General of Accounts
Office of the Controller General of Accounts 

Ministry of Finance, Department of Expenditure 

Mahalekha Niyantrak Bhawan
E Block, INA
New Delhi - 110 023 

Dear Sir

RTGS System-Increase in operating hours

Reserve Bank of India has vide its circular DPSS(CO) RTGS No.364/04.04.016/2019-20 dated August 21, 2019 decided to increase the operating hours Of RTGS and commence operations for customers and banks from 7.00 am with effect from August 26, 2019 (copy enclosed).

2. It is informed that, in e-Kuber QPX, a business day is divided into 12 business sessions, starting from 8.00 am up to 8.00 pm. The system-based consolidation process is executed at the end of each business session for accounting as well as generation of the Credit Notifications for e-Receipts and Return Notifications for e-Payments

3. It has been decided that with effect from August 26, 2019 an additional business session starting from 7.00 am has been added in e-Kuber QPX. Accordingly all e-Receipts and e­ Payments will be processed, system-based consolidation process will be executed for accounting as well as all notifications for Government a-Receipts and e-Payments will be generated and transmitted to Government for the additional business session also.

4. This is for your kind information please.

Yours faithfully

(L.S. Bhati)

Asstant Manager

Encl: As above

RESERVE BANK OF INDIA

www.rbi.org.in

RBl/2019-20/46

DPSS (CO) RTGS No.364/04.04.016/2019-20 

August 21, 2019

The Chairman / Managing Director / Chief Executive Officer 

of member banks participating in RTGS

Madam / Dear Sir,

Real Time Gross Settlement (RTGS) System - Increase in operating hours

A reference is invited to the circular DPSS / CO/RTGS No. 2488/04.04.016/2018-19 dated May 28,  2019 on 'Real Time Gross Settlement (RTGS) System - Extension of Timings for Customer Transactions'.

2. At present, the RTGS system is available for customer transactions from 8:00 am to 6:00 pm and for inter-bank transactions from 8:00 am to 7:45 pm. In order to increase the availability of the RTGS system, it has been decided to extend the operating hours of RTGS and commence operations for customers and banks from 7:00 am.

3. The RTGS time window with effect from August 26, 2019 will, therefore, be as under:

Sr. No.	Event	Time
1.	Open for Business	07:00 hours
2.	Customer transactions (Initial Cut-off)	18:00 hours
3.	Inter-bank transactions (Final Cut-off)	19:45 hours
4.	IDL Reversal	19:45 hours - 20:00 hours
5.	End of Day	20:00 hours

4. This directive is issued under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act 2007 (Act 51 of 2007).

Yours faithfully, (P Vasudevan)

Sd/-
Chief General Manager
 

Source: CGA