24×7 RTGS transaction facility to start today: RBI

NEW DELHI: The Reserve Bank of India (RBI) Governor Shaktikanta Das on Sunday said Real Time Gross Settlement(RTGS) facility in the country will become operational from 12.30 am on Monday, making India one of the few countries in the world to operate the system 24X7.
“RTGS facility becomes operational 24X7 from 12.30 am tomorrow. Congratulations to the teams from RBI, Indian Financial Technology and Allied Services (IFTAS) and the service partners who made this possible,” Das tweeted.
“India will be among very few countries globally with a 24x7x365 large-value real-time payment system. This will facilitate innovations in the large value payments ecosystem and promote ease of doing business,” Das has said in an earlier statement.
RTGS facility becomes operational 24X7 from 12.30 pm tonight. Congratulations to the teams from RBI, IFTAS and the… https://t.co/HD8B5i99Qa
In October, the RBI had announced that RTGS will be available round-the-clock on all days of the year. Here’s all you need to know about the RTGS facility-
RTGS on 24x7x365 facility comes within a year of RBI operationalising NEFT 24×7. NEFT is a popular mode for small-value transactions. —Agencies

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