**Summary:**
This policy directive, issued by the Reserve Bank of India (RBI) on December 4, 2020 (Reference No. RBI/2020-21/70 DPSS.CO.RTGS No.750/04.04.016/2020-21), announces the 24x7 availability of the Real Time Gross Settlement (RTGS) system, effective December 14, 2020, at 00:30 hours. This decision, initially announced on October 9, 2020, makes RTGS available on all days of the year for both customer and interbank transactions, with the exception of a brief period between the end-of-day and start-of-day processes. The timings of this interval will be broadcasted through the RTGS system. The RTGS system will continue to be governed by the RTGS System Regulations, 2013, as amended, which are accessible on the RBI website. IntraDay Liquidity (IDL) facility will be available and must be reversed before the end-of-day process. Member banks are instructed to establish the necessary infrastructure to support 24x7 RTGS operations, preferably using Straight Through Processing (STP) for transactions outside of normal banking hours, and to inform their customers about this extended availability. This directive is issued under Section 10(2) read with Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007). For inquiries, contact P. Vasudevan, Chief General Manager, Department of Payment and Settlement Systems, Central Office, 14th Floor, Central Office Building, Shahid Bhagat Singh Road, Fort, Mumbai – 400001. Tel: 91-22-2264 4995; Fax: 91-22-22691557; email: cgmdpsscorbi.org.in.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for regulating the banking system.
Real Time Gross Settlement: A system for the real-time transfer of funds between banks.
RTGS System Regulations, 2013: Regulations governing the operation of the Real Time Gross Settlement (RTGS) system in India.
October 09, 2020: Date when the Reserve Bank of India announced making available the Real Time Gross Settlement (RTGS) system round the clock.
December 14, 2020: The date from which RTGS was made available round the clock.
IntraDay Liquidity IDL: A facility to provide liquidity for smooth RTGS operations.
Payment and Settlement Systems Act, 2007: The Indian law that provides the legal basis for the regulation of payment and settlement systems in India.
P Vasudevan: Chief General Manager at Reserve Bank of India.
भारतीय �रज़व र् बक�
RESERVE BANK OF INDIA
www.rbi.org.in
RBI/2020-21/70
DPSS (CO) RTGS No.750/04.04.016/2020-21 December 04, 2020
The Chairman / Managing Director / Chief Executive Officer
of member banks participating in RTGS
Madam / Dear Sir,
24x7 Availability of Real Time Gross Settlement (RTGS) System
A reference is invited to the Statement on Developmental and Regulatory Policies
dated October 09, 2020 wherein Reserve Bank of India (RBI) had announced making
available the Real Time Gross Settlement (RTGS) system round the clock on all days.
Accordingly, it has been decided to make RTGS available round the clock on all days
of the year with effect from 00:30 hours on December 14, 2020.
2. Members are advised as under:
i. RTGS shall be available for customer and inter-bank transactions round the
clock, except for the interval between ‘end-of-day’ and ‘start-of-day’ processes,
whose timings would be duly broadcasted through the RTGS system.
ii. RTGS shall continue to be governed by the RTGS System Regulations, 2013,
as amended from time to time. The revised Regulations are available on RBI’s
website at: https://www.rbi.org.in/Scripts/Bs_viewRTGS.aspx.
iii. Intra-Day Liquidity (IDL) facility shall be made available to facilitate smooth
operations. The Intra-Day Liquidity (IDL) availed, if any, shall be reversed
before the ‘end-of-day’ process begins.
...2/-
भुगतान और िनपटान �णाली िवभाग, क��ीय कायार्लय, 14वीमंिजल, क��ीय कायार्लय भवन,शहीद भगत�संह मागर्, फोट,र् मम्ुबई - 400001
फोनTel: (91-22) 2264 4995; फैक् सFax: (91-22) 22691557; ईमेलe-mail : cgmdpssco@rbi.org.in
Department of Payment and Settlement Systems, Central Office, 14th Floor, Central O-ffice Building, Shahid Bhagat Singh Road, Fort, Mumbai -
400001
�हदं ी आसान ह ै, इसका �योग बढ़ाइए3. Members are advised to put in place necessary infrastructure to provide RTGS
round the clock to their customers. RTGS transactions undertaken after normal
banking hours are expected to be automated using ‘Straight Through Processing
(STP)’ modes.
4. Members are further advised to disseminate information on the extended availability
of RTGS to all their customers.
5. 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)
Chief General Manager
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