Round-the-clock RTGS from December 14
MUMBAI: The Real Time Gross Settlement System (RTGS) for high-value transactions will be available round-the-clock on all days from 00:30 hours of December 14, making India one of the few countries to operate the system 24x7. In October, the RBI had announced that RTGS will be available round-the-clock on all days of the year. "Accordingly, RTGS 24x7x365 will be launched with effect from 00:30 hours on December 14, 2020," the central bank said in a statement. The RBI said India will become one of the few countries in the world to operate its RTGS system round-the-clock throughout the year. This comes within a year of the Reserve Bank of India (RBI) operationalising NEFT 24x7. NEFT is the popular mode for small-value transactions. RTGS, which started on March 26, 2004 with a soft launch inv...