RTGS - IDBI Bank RTGS
Overview
Nowadays when time is of essence, IDBI offers, Real Time Gross Settlement (RTGS) payments & Receipts system, a solution for faster and most efficient settlement system for our esteemed customers. This payment mechanism will enable funds to be received by the recipient intra-day, rather than the net settlement system exchanges that occur at the end of the banking hours.
The RTGS product would provide the following benefits:
Speed – Guaranteed & Fast settlement of transactions
High Liquidity – Lowering interest costs
Better Funds Management - Ensures optimum planning and utilization of funds
Hassle free High Value settlement - Elimination of collections thru physical H/V clearing
Reduces Paper work and improves efficiency
Eliminates "Settlement Risk" & "Systemic Risk"
RTGS Card Rates
Inward Transactions: FREE
Outward Transactions:
- a) Rs. 2 lakh to Rs. 5 lakh - Not exceeding Rs. 30 per transaction
- b) Above Rs. 5 Lacs - Not exceeding Rs. 55 per transaction
Timings for Transactions: Cut off timing for Branches: In line with RBI's timelines, transactions can be sent through the RTGS system within following time schedules:
Outward Transactions
- On Weekdays : 9:00 Am to 4:15 PM
- On Saturdays: 9:00 Am to 1:00 PM
CMS Cut off timings for processing the payment request on the same day:
Payment Request/CMS Cut off timings for RTGS
- On Weekdays: (Monday to Friday) : 9:00 Am to 4:15 PM
- Bulk Upload at Customer end: 16:00 Hrs
- Payment request through electronic E-mail / fax: 15:30 Hrs
- On Saturday:
- Bulk Upload at Customer end: 13:00 Hrs
- Payment request through electronic E-mail / fax 12:30 Hrs