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    Home » These rules related to banking are changing from December 1, you will benefit
    Finance

    These rules related to banking are changing from December 1, you will benefit

    Nisha ChawlaBy Nisha ChawlaNovember 24, 2020No Comments
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    rtgs service will available 24x7x365 from december 1, you can do rtgs anytime of any day from 1st december, rtgs rule change
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    A rule related to banking is going to change in the country from 1 December 2020. But the thing is not to be alarmed, because customers are going to benefit from the changed rules. In fact, from next month onwards real time gross settlement (RTGS) facility will be available 24 hours and seven days. That is, customers will be able to transact money anytime through 365 days of the year through RTGS.

    The Reserve Bank (RBI) decided to make RTGS available 24 hours in the month of October. RBI says that with the introduction of this facility, India will be among the very few countries in the world that have 24x7x365 large value real time payment system. Right now RTGS system is available from 7 am to 6 pm on all working days of the week except the second and fourth Saturday of the month.

    How much work does RTGS service

    Fund transfer can be done instantly through RTGS. 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. It can be used both online and through bank branches.

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    Rules have also changed in the case of NEFT

    Earlier in December 2019, the rules related to National Electronic Funds Transfer (NEFT) were changed. Since last year, it is also available to customers 24x7x365. There is no minimum limit for funds being transferred through NEFT, while the maximum limit may vary from bank to bank. There is no maximum limit for this in some banks. NEFT can also be used through both online and bank branch channels.

    Source: www.financialexpress.com

    1 December 24 hours RTGS Change from 1 December Change in RTGS rules national electronic fund transfer Neft new rule from december 1 New rule of RTGS OIL RBI real time gross settlement reserve bank Reserve Bank of India rtgs RTGS facility available every day rtgs new rule rtgs rule change rtgs service will available 24x7x365 from december 1 rtgs system rtgs timings rtgs transaction you can do rtgs anytime of any day from 1st december
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    Nisha Chawla
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    She is an expert in Banking, Finance and working with an international bank. She sharing her ideas and knowledge with Business Khabar.

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