RBI to remain open on July 1 to facilitate transactions

RBI will remain open on July 1 for services such as transfer of funds through National Electronic Funds Transfer NEFT and Real Time Gross Settlement -RTGS from 11 AM onwards.

RBI follows a July to 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 on Thursday said in a release from Mumbai that July 1 being a working Saturday, it has decided to remain open on that day. It stated that the liquidity adjustment facility- LAF fixed rate repo window will be operated between 11.30 AM and 3 PM. It added that there will be no change in the timings of fixed rate reverse repo and marginal standing facility-MSF.

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