Latest news with #Real-TimeGrossSettlement
Mint
24-05-2025
- Business
- Mint
Bank holiday today: Are banks open or closed on Saturday, May 24? Check here
Bank holiday today: According to the Reserve Bank of India (RBI) calendar, banks will be closed on May 24, 2025, the fourth Saturday of the month. Banks are generally closed on the second and fourth Saturdays of every month, while they are open on the first and third Saturdays, according to the RBI calendar. Since May 26 is the fourth Saturday of the month, the banks will be closed on this day. Customers can check whether banks are open or closed on a given day by visiting the RBI's official channels, which are the website and notifications to banks. The central bank has designated three types of bank holidays: Negotiable Instruments Act, Real-Time Gross Settlement (RTGS) holidays and banks' closing of accounts. Saturday, May 24, 2025, is categorised as a holiday under the Negotiable Instruments Act, which regulates the issuing of cheques and promissory notes. Therefore, transactions including these instruments will not be available during the holidays. Online banking services will be available across the country during bank holidays for seamless access to banking services. Customers can use these services for convenient financial transactions. Fund transfer requests can be made using NEFT/RTGS transfer forms, demand draft request forms, and chequebook forms. Credit cards, debit cards, and ATM cards can be secured through card services. Services such as account maintenance forms, setting up standing instructions, and applying for a locker are also available. In the month of May, the RBI designated six bank holidays for various religious and regional observances in addition to Saturdays and Sundays. May 1 (Thursday) - Maharashtra Din and May Day (Labour Day) May 9 (Friday) - Birthday of Rabindranath Tagore May 12 (Monday) - Buddha Purnima May 16 (Friday) - State Day May 26 (Monday) - Birthday of Kazi Nazrul Islam May 29 (Thursday) - Maharana Pratap Jayanti
Hindustan Times
17-05-2025
- Business
- Hindustan Times
Bank holiday: Are banks in India open or closed today, May 17?
Weekends are when most people finally find the time to run errands, including visiting the bank. But with frequent national and regional holidays, and banks staying shut on some Saturdays, it's easy to lose track. If you are wondering whether banks are open today, here's a quick reminder: according to the Reserve Bank of India, all banks remain closed on the second and fourth Saturdays of every month. The RBI also puts out a holiday list so you can plan your bank visits without any last-minute surprises. Banks will remain open today as it is the third Saturday, resulting in banks operating at regular working hours. The list of bank holidays announced by RBI includes: 18 May (Sunday) - weekly off 24 May (Saturday) — Weekly off due to the fourth Saturday 25 May (Sunday) — Weekly Off 26 May (Monday)- On the account of the Birthday of Kazi Nazrul Islam 29 May (Thursday)- On the account of Maharana Pratap Jayanti On May 26, banks in only Agartala will remain closed, while banks in other states will remain open. Similarly, for May 29, banks in Shimla will remain closed for Maharana Pratap Jayanti. RBI publishes a list of Bank holidays for each month on the official website. There are three categories of bank holidays- Negotiable Instrument Act, Real-Time Gross Settlement (RTGS) holidays and banks' closing of accounts. Also the bank holidays differ in every state according to the festivals. A total of six holiday have been designated during the month of May. During the bank holiday, customers will not be able to conduct transactions related to cheques and promissory notes as these come under the Negotiable Instruments Act. Meanwhile, the customers will still be able to access the digital banking services through Net banking and the ATM will also remain functional. Fund transfers can be initiated using the online banking facilities. Other services, such as card usage, account management, and setting up standing instructions, can also be done online.
Mint
17-05-2025
- Business
- Mint
Bank holiday today: Are banks open or closed on Saturday, May 17? Details here
Banks in India close on various occasions, including national and regional holidays, as well as specific days mandated by the Reserve Bank of India (RBI). According to RBI regulations, all scheduled and non-scheduled banks remain closed on the second and fourth Saturdays of each month. Since May 17 falls on the third Saturday, banks will be open and operate according to their regular Saturday working hours. May 18 (Sunday) — Weekly Off May 24 (Saturday) — Weekly off for the fourth Saturday May 25 (Sunday) — Weekly Off May 26 (Monday) — Birthday of Kazi Nazrul Islam — Banks in Tripura will be closed to observe the birthday of Kazi Nazrul Islam. May 29 (Thursday) — Maharana Pratap Jayanti — Banks will be closed in Himachal Pradesh to observe Maharana Pratap Jayanti. The RBI has categorised bank holidays into three types: Negotiable Instruments Act, Real-Time Gross Settlement (RTGS) holidays and banks' closing of accounts. To check whether banks are open or closed on a given day, customers must thoroughly visit RBI's official channels, which are the website and notifications to banks. Bank holidays in India differ across states to accommodate local requirments along with national and religious festivities. Thus for customers, it its best to get a confirmed holiday schedule from your nearest local bank branch and make arrangements to deal with any extended closures or emergencies on particular dates. On a bank holiday, Digital banking allows users to manage their accounts conveniently without visiting a branch. Moreover, fund transfers can still be initiated using NEFT or RTGS through online banking. Additionally, customers can submit requests for demand drafts, chequebooks, and other services online. Card-related services, including applying for credit, debit, or ATM cards, are also accessible digitally. Key Takeaways Banks in India close on certain national and regional holidays as per RBI regulations. On May 17, banks will operate during regular Saturday hours. Digital banking services allow customers to manage their accounts even on bank holidays.
Mint
10-05-2025
- Business
- Mint
Bank holiday today: Are banks open or closed on Saturday, May 10? Banks in THESE cities to remain closed for next 3 days
Bank holiday today: Banks will remain closed on May 10, 2025, since it is the second Saturday of the month, according to the Reserve Bank of India (RBI) calendar. Banks are typically closed on the second and fourth Saturdays of every month, while they are open on the first and third Saturdays. As May 10 is the second Saturday of the month, the banks will be closed on this day. It must be noted that banks will be closed for the next three days from May 10 to May 12 in some parts of the country. Banks will remain shut on Sunday, May 11 and on account of Buddha Purnima, banks will be closed in some states on Monday, May 12. Hence, banks will remain closed for the next three days in cities including Agartala, Aizawl, Belapur, Bhopal, Dehradun, Itanagar, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Raipur, Ranchi, Shimla and Srinagar. To check whether banks are open or closed on a given day, customers must thoroughly visit RBI's official channels, which are the website and notifications to banks. The RBI has categorised bank holidays into three types: Negotiable Instruments Act, Real-Time Gross Settlement (RTGS) holidays and banks' closing of accounts. Saturday, May 10, 2025, is designated as a bank holiday under the Negotiable Instruments Act, which regulates the issuing of cheques and promissory notes. Therefore, transactions including these instruments will not be available during bank holidays. Customers can access online banking services across the country during bank holidays for seamless access to banking services, even on bank holidays. Customers can use these services for convenient financial transactions. Fund transfer requests can be made using NEFT/RTGS transfer forms, demand draft request forms, and chequebook forms. Credit cards, debit cards, and ATM cards can be availed through card services. Services such as account maintenance forms, setting up standing instructions, and applying for a locker are also available. The upcoming bank holidays for May 2025 are listed below — May 12 (Monday) - Buddha Purnima Banks in Agartala, Aizawl, Belapur, Bhopal, Dehradun, Itanagar, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Ranchi, Shimla and Srinagar. May 16 (Friday) - State Day Banks across Sikkim will remain closed on Friday, May 16 to observe State Day. May 26 (Monday) - Birthday of Kazi Nazrul Islam Banks in Tripura will be closed to observe the birthday of Kazi Nazrul Islam. May 29 (Thursday) - Maharana Pratap Jayanti Banks will be closed in Himachal Pradesh to observe Maharana Pratap Jayanti.
Daily News Egypt
12-04-2025
- Business
- Daily News Egypt
Interbank EGP transactions via RTGS near EGP 69trn in Q1 2025: CBE
The Central Bank of Egypt (CBE) announced that the total value of interbank payments in local currency processed through the Real-Time Gross Settlement (RTGS) system reached EGP 68.991trn during the first quarter (Q1) of 2025, across approximately 637,276 transactions. According to the CBE's latest report, January accounted for 211,170 transactions valued at EGP 23.139trn, followed by 209,099 transactions worth EGP 20.443trn in February, and 217,007 transactions totaling EGP 25.408trn in March. The RTGS system plays a critical role in Egypt's financial infrastructure by handling high-value, high-priority domestic payment orders. Its systemic importance stems from the volume and strategic nature of the transactions it processes—any disruption could pose risks to the broader economy. Strengthening the system's resilience is essential to improving the efficiency of liquidity circulation throughout the financial sector. In parallel, the CBE reported the clearance of 2.484 million cheque transactions through its clearinghouse in Q1 2025, with a combined value of EGP 1.038trn. These included EGP 345.276bn in January, EGP 335.750bn in February, and EGP 357.488bn in March. The CBE further noted that 10.270 million cheques were cleared in 2024, with a total value of EGP 3.580trn. The central bank manages and operates the cheque clearing system in three currencies: the Egyptian pound, US dollar, and euro. It oversees the clearing process, resolves related discrepancies, and determines net settlement positions in each currency before executing final settlements via the RTGS system. On average, approximately 50,000 cheques are processed daily.
