As per the RBI Guidelines, on which of the following days RTGS facility will not operate?

a. 1st Monday of the month & 4th Saturday of the month

b. 2nd Saturday of the month & 4th Saturday of the month

c. All Saturdays of the month & 4th Saturday of the month

d. All Saturdays of the month & 2nd Saturday of the month

ANSWER: 2nd Saturday of the month & 4th Saturday of the month

Explanation:

The Reserve Bank has said that the Real-time gross settlement - RTGS system will not be operated on second and fourth Saturdays with banks observing public holiday on those days. In a notification issued from Mumbai, RBI said that the system will operate for full days on working Saturdays of the month. The minimum amount to be remitted through RTGS is Rs 2 lakh while there is no upper ceiling.