The Reserve Bank of India (RBI) has announced that the 24X7 RTGS (Real Time Gross Settlement) facility will be operationalised from early morning of December 14, 2020 to enable round the clock transfer of money.
RTGS is generally used for high value financial transactions.
“RTGS facility becomes operational 24X7 from 12.30 am tonight. Congratulations to the teams of RBI & IFTAS and service partners who made this possible,” Shaktikanta Das, Governor, RBI said in a twist.
This is part of RBI’s plans to push digital payments in the country.
Currently RTGS facility is available from 7am to 6pm on working days of the week except 2nd and 4th Saturdays.
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