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.

EDITORIAL OF THE DAY

  • Not warnings, total prohibition of smoking is the only answer to restoring citizens’ health

    In a landmark judgment the Supreme Court on Wednesday said the tobacco industry must adhere to government rules requiring stringent health warnings on

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Urs Schoettli

Japan’s seismic shocks raise big questions

In the middle of April the region of Kumamoto on ...

Zehra Naqvi

The flame of hate

Pyre. The name itself evokes a sense of foreboding, casting ...

Bubbles Sabharwal

Whiners and complainers, please exit

We all know WC stands for a water closet, a ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture