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RTGS for high-value transactions will be available from today

In October, RBI Governor Shaktikanta Das had announced that the RTGS payment system will available from today.

The RBI Governor said, “The system will be available at all times from December 2020 to make online fund transfer smooth.” He tweeted, “RTGS facility becomes operational 24X7 from 12.30 am tonight. Congratulations to the teams from RBI, IFTAS and the service partners who made this possible.”

Last week said, “Round the clock availability of RTGS will provide extended flexibility to businesses for effecting payments and will enable introduction of additional settlement cycles in ancillary payment systems. This can also be leveraged to enhance operations of Indian financial markets and cross-border payments.” An official said, “Making available NEFT 24×7 is part of RBI’s vision of empowering every Indian with access to a bouquet of e-payment options.”

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