RBI to remain open on July 1, 2017

Mumbai, June 30 (KNN) The Reserve Bank of India (RBI) will remain opened on July 1, 2017 and services, such as, RTGS/ NEFT, transfer of funds and settlement of securities will be available from 11:00 am onwards.

RBI, in a release, said, “In account of Reserve Bank’s annual closing of accounts on June 30, 2017 (Reserve Bank’s accounting year being July to June), and July 1, 2017 being a working Saturday, the Reserve Bank of India has decided that it will remain open on July 1, 2017”.

Services, such as, RTGS/ NEFT, transfer of funds and settlement of securities will be available from 11:00 am onwards.

However, settlement of funds as well as securities for all transactions that settle on T+0 basis will be effected from 11:00 am onwards;

The LAF fixed rate Repo window will be operated between 11.30 am and 03.00 pm. There will be no change in the timings of fixed rate Reverse Repo and Marginal Standing Facility (MSF). (KNN Bureau)