September 1, 2015 - India ITR

Changes in RTGS window

RBI Notifications/ Circulars/ Press ReleaseBy Himanshi September 1, 2015

After declaring the bank holiday on second and fourth Saturdays, RTGS will not be operated on second and fourth Saturdays but would operate for full day on working Saturdays. Processing of future value dated transactions with value date falling on second and fourth Saturdays will not be undertaken under RTGS. The RTGS time window with…

Still using NEFT to transfer funds? Try IMPS – 24×7 and Immediate – Part 2

Bank Accounts, Misc. ItemsBy Himanshi September 1, 2015

10.What is the Process flow of IMPS? Step 1: Remitter sends instruction from his/her mobile through his/her bank provided application or SMS. Step 2: Remitting bank validates the details of the remitter and debits his/ her account. This transaction is sent by the remitting bank to NPCI. Step 3: Transaction is passed by NPCI to…