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RBI to remain open on July 1 to facilitate transactions

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The Reserve Bank of India (RBI) will remain open on July 1 for services such as transfer of funds through National Electronic Fund Transfer (NEFT) and realtime gross settlement (RTGS) from 11 am onwards.The RBI followsato June accounting year and June 30 being the closing date of the year, the office generally remains closed on July 1 every year. The apex bank said July 1 being a working Saturday, it has decided to remain open on that day.Services such as RTGS and NEFT for sending funds and settlement of securities will be available from 11 am onwards.Settlement of funds as well as securities for all transactions that settle on T+0 basis will be effected from 11 am onwards, it said in a release.The liquidity adjustment facility fixed rate repo window will be operated between 11.30 am and 3 pm, it further said.

Business Standard New Delhi, 30th June 2017

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