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At present, the Real Time Gross Settlement (RTGS) System is available for customer transactions from 0800 hours to 1800 hours and for inter-bank transactions from 0800 hours to 1945 hours.
“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,” the RBI said in a notification.
The extended customer transactions timing will be applicable from August 26, it added.
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Currently, the NEFT, a retail payment system, is available for customers from 8 am to 7 pm on all working days with the exception of second and fourth Saturdays of a month.
The NEFT system is used for fund transfers of up to Rs 2 lakh, and RTGS for those above this threshold.