RBI to remain open on July 1 unlike previous practice

Tags: News
The RBI will remain open for banking transactions on July 1, departing from its regular practice of no same-day interbank settlement on its annual accounts closing day, it said in a release on Friday.

On July 1, the Reserve Bank of India will start its real time gross settlement operation from 1200 hours (0630 GMT) and funds will be settled on T+0 basis from noon onwards.

The RBI will operate its Liquidity Adjustment Facility (LAF) window between 12:30 and 1:30 local time.

Settlement of Marginal Standing Facility (MSF) and LAF transactions due for reversal will be at 1200 hours on July 1.


  • Cyrus Mistry eased out as Tata shows its heft in Bombay House

    It is a classic board room brawl, only this time, it took place in the dignified and rarified air of Bombay House, home to the venerable Tata Sons.


Stay informed on our latest news!


Ananda Majumdar

Between mobocracy and the nation

Maharashtra Chief Minister Devendra Fadnavis’ well publicised act of peacemaking ...

Rajgopal Nidamboor

The physics of mindful awareness

Philosopher Aristotle emphasised the fact that “thinking always involves thinking ...

Shona Adhikari

Owais Husain searches for a lost homeland

The seventh edition of the Mumbai Public Art Festival (PAF) ...