New Delhi (NVI): The Reserve Bank of India (RBI) today said that the 24X7 Real Time Gross Settlement (RTGS) facility will start from tomorrow.
With this, India will become one of the few countries in the world to operate the system 24X7. RBI Governor Shaktikanta Das made the announcement today. The facility will become operational from 12:30 PM tonight.
“RTGS facility becomes operational 24X7 from 12.30 pm tonight. Congratulations to the teams from RBI, IFTAS and the service partners who made this possible,” the RBI governor tweeted.
RTGS is a financial transaction system, where there is a continuous and real-time settlement of fund transfers, individually on a transaction-by-transaction basis.
-ARK
