RTGS service charges for members and customers - Rationalisation

Inward transactions of the members will not attract any service charges and will continue to be free, as hitherto.

The RTGS service charges would consist of monthly membership fee and processing charges per transaction, as follows:

(i)             Monthly Membership Fee:

Type of Entities	Monthly Membership Fee(exclusive of service tax)
Scheduled Commercial Banks (SCB)	Rs.5,000
Banks other than SCBs, Primary Dealers, clearing entities, other special entities, etc.	Rs. 2,500

(ii)           Processing charge per transaction: Every outward transaction will attract flat processing charge of Rs. 0.50 (exclusive of service tax) and a time varying charge as under:

Sr. no.	Time of Settlement at RBI		Time varying charge per outward transaction (exclusive of service tax)
	From	To
1	08:00 hours	11:00 hours	Nil
2	After 11:00 hours	13:00 hours	Rs. 2.00
3	After 13:00 hours	16:30 hours	Rs. 5.00
4	After 16:30 hours		Rs. 10.00

4. The maximum charges that can be recovered by a member from its customers will remain unchanged as under:

RTGS Transaction	Maximum Customer Charges (exclusive of service tax)
Inward transactions	Free
Outward transactions
Rs. 2 lakh to Rs. 5 lakh	Rs. 25 + applicable time varying charge, subject to a maximum of Rs. 30/-.
Above Rs. 5 lakh	Rs. 50 + applicable time varying charge, subject to a maximum of Rs. 55/-.

Members may please note that customers should not be charged for inward transaction, as hitherto.

RBI will calculate service charges on a monthly basis and will debit the amount from the current account of the Bank maintained with Deposit Accounts Department of RBI. The necessary reports would be made available by the Department.

The revised service charges will come into effect from April 1, 2016.

Based on RBI Circular dt 04/02/16. Please visit www.rbi.org.in for any further clarification if required….. Poppy