Reserve Bank of India (RBI) has announced extension of timings for customer transactions through Real Time Gross Settlement (RTGS) by one and half hours from 4:30 PM to 06 PM. The new timings will be effective from 1st June, 2019.
RTGS is an online fund transfer system, supported by RBI which enables money transaction on a real-time basis. It is primarily meant for large-value transactions.
RTGS serves as a system of continuous and real-time settlement of fund-transfers, individually on transaction by transaction basis (without netting).
The minimum amount for transaction under RTGS is Rs 2 lakh. There is no upper limit on the value of funds that can be transferred via the RTGS system.
Walmart has appointed Suresh Kumar, an IIT Madras graduate and former Google executive, as chief technology officer and chief development officer.
He holds a Bachelor of Technology from the Indian Institute of Technology, Madras, and a PhD in engineering from Princeton University. He has over 25 years of technology leadership experience.
Earlier he was associated with Google where he served as vice president and general manager of display, video, app ads and analytics.
He was also associated with Amazon in various leadership roles, which included vice president of technology for retail systems and operations. He led Amazon’s retail supply chain and inventory management systems.