RBI waives RTGS, NEFT charges

The Reserve Bank of India(RBI) has announced that it is removing all charges on money transfers done through the RTGS and NEFT modes.This decision was taken to boost the digital funds movement. NEFT stands for National Electronic Fund Transfer.It is a payment system which facilitates one-to-one funds transfer from one financial institution to another. Using… Continue reading RBI waives RTGS, NEFT charges

RBI extends RTGS transfer timings

The Reserve Bank of India has increased the Real Time Gross Settlement(RTGS) time window for customer transactions from 4.30 pm to 6 pm. The RTGS is an online fund transfer system supported by the RBI which enables transmission on a real-time basis. Real time means the beneficiary bank receives the instructions for fund transfer immediately… Continue reading RBI extends RTGS transfer timings