In terms of Reserve Bank of India circular DPSS.CO.OD.494/04.04.009/2011-2012 dated September 21, 2011, in which liberalized revised access criteria for centralized and decentralized payment systems were announced, Regional Rural Banks have been given access to the NEFT and RTGS system through their Sponsor Bank.Our Bank is already participating in the NEFT payment system through Sponsor Bank. As per the directives of RBI, the Sponsor Bank had taken serious steps to expand the sub-membership route for their sponsored RRBs to participate in the RTGS systems.In customer payment mode, funds can be transferred from customer account to beneficiary account of any bank and branch in India. Minimum transaction amount in customer payment mode is 2.00 lakh and maximum amount is 25.00 lakh. Since RTGS funds transfer happens in real time basis when compared to NEFT, branches are advised to use RTGS mode if the transaction amount is more than 2.00 lakh.



Customer transactions

Monday to Friday

9.00AM to 4.00PM


9.00Am to 1.00PM


Time Varying Charges


Reserve Bank of India, vide their circular no. RBI / 2011-12 / 166- DPSS (CO) RTGS No.388/ 04.04.002 / 2011-2012 dated 05.09.2011 informed that it has been decided to levy service charges for all outward transactions of RTGS members. The rationale behind the levy of service charges for outward transactions of members in the RTGS system is to (a) recover operational costs and (b) to bring in further efficiency in the operations and the liquidity flows in the RTGS system. Inward transactions of the members will not attract any service charges and will be free.The RTGS service charges have three components (i) membership fee, (ii) transaction fee and (iii) time-varying tariff. Membership fees and transaction fees are not to be passed on to customers but the time varying tariff is to be passed on to the customers.


Time Varying Tariff (per transaction)


S no

     Time of Settlement at Reserve bank of India

Charges per Transaction




09.00 hours

12.00 hours



After 12.00 hours

15.30 hours



After 15.30 hours

17.30 hours



After 17.30 hours

18.00 hours



Discretion to customers for selection between RTGS and NEFT


RTGS and NEFT are two important pan-India payment systems introduced by Reserve Bank of India, keeping in mind the requirements of various customers in the wholesale and retail payment systems segment. Both these systems have distinct objectives and unique features in terms of the time criticality of payments, threshold value of transactions, mode of settlement etc. As such, the charges levied for transactions in the two systems are also different. The customers in turn, should be empowered to exercise the choice between these two systems depending upon their requirements.In view of the above, Reserve Bank of India, vide their circular no. RBI / 2011-12 / 152-DPSS (CO) EPPD No. 274 / 04.03.01 / 2011-12 dated 12.08.2011, reiterated that all the participating banks should provide the option to the originating customer to choose between these two modes at the time of initiation of the funds transfer. The option should be made available to all the customers who may originate remittance at the branch. The funds are to be transferred necessarily through the option chosen by the customer.