Banks are observing public holiday on every second and fourth Saturdays of a month
Reserve Bank of India
Mumbai: The RTGS system, which allows real time transfer of large funds, will not be operated on second and fourth Saturdays with banks observing public holiday on that days, the Reserve Bank said on Tuesday.
However, the system will operate for full days on other Saturdays of a month, the RBI said. “Processing of future value dated transactions with value date falling on second and fourth Saturdays will not be undertaken under RTGS,” RBI said.
Banks are observing public holiday on every second and fourth Saturdays of a month. As per the new time schedule for RTGS transactions on regular days, including Saturdays except second and fourth, business opening would be at 0800 hours while initial cut off (customer transactions) would be 1630 hours. The close of business is at 2000 hours.
( Source : PTI )
Next Story
