RTGS biz hours increased to 12 hours

Mumbai:  To promote electronic payments, the Reserve Bank today increased RTGS business hours to 12 hours from 8 am to 8 pm on weekdays, effective December 29.   On Saturdays, the RTGS (real time gross settlement) system of online fund transfer will be open from 8 am to 3.30 pm, RBI said in a circular.  The existing business hours are 9 am to 4.30 pm on weekdays and till 2pm on Saturdays.