new Delhi. Crores of bank customers in the country who prefer digital transactions are very good news. The Reserve Bank of India has given a major update, changing the cash transfer rules. Now 24 hours and seven days RTGS facility will be started from December 14. Earlier this service was from 7 am to 6 pm on all working days of the week except second and fourth Saturdays. According to the Reserve Bank, the facility will start at 12:30 pm on December 14, 2020.
These people will benefit the most
Real time gross settlement would have a huge benefit for immediate fund transfer, even for those who make more than 2 lakh transactions. If you are a merchant and you have to order the goods on cash immediately, then you will not be able to use the RTGS facility due to the night and you cannot withdraw cash from the bank. At the same time, if any of your relatives needs a big amount in half, you will be able to transfer cash comfortably.
Something like RTGS charge
RTGS can be done both online and bank. You do not need to pay any fee for online RTGS transactions. On the other hand, by going to the bank branch, you have to pay a charge for transferring funds from RTGS. This charge has been set aside in different banks.
Big announcement on contactless transactions
In the Corona era, the trend of digital payments has increased in the country. Therefore, with a view to giving it a further boost, the central bank has decided to increase the limit of payment through contactless card to Rs 5,000 from January 1 next year. With the contactless card, from January 1, 2021, you can pay up to Rs 5,000. Reserve Bank of India Governor Shaktikanta Das announced the decision taken in the bi-monthly monetary policy review meeting on Friday. During this, he also announced to increase the limit of payment from contactless card from Rs 2,000 to Rs 5,000 from January 1.