To promote electronic payments, the Reserve Bank of India has increased the Real Time Gross Settlement (RTGS) business hours to 12 hours from 8 am to 8 pm on weekdays which will come into effect from 29 of this month. The RBI in a circular said that the RTGS system of online fund transfer will be open on Saturdays from 8 am to 3.30 pm.The existing business hours are 9 am to 4.30 pm on weekdays and till 2 pm on Saturdays. To keep enhancing the systems and procedures to meet the growing needs of markets/customers and to cater to the expanding volume and to provide liquidity, the RBI launched the new RTGS system in October 2013.