Magnetic field and time induced steps have been observed in the recently discovered ternary silicide R6Co1.67Si3. Huge relaxation steps are observed across different loops in the low temperature magnetization isotherms. Giant relaxation present in this system indicates the existence of incubation time to get the saturated moment at a certain field. Measurement protocol sensitive magnetization behavior observed in this system may arise from the strong magnetostructural coupling and/or magnetic frustration. Electrical resistivity and magnetoresistance also reflect the magnetic state of the compound. Magnetocaloric effect is found to be large at temperatures close to the magnetic transition temperature. © 2010 Elsevier B.V. All rights reserved.