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Progress of NEFT and RTGS Systems NEFT system has achieved a milestone on February 29, 2024, by processing 4,10,61,337 transactions, the highest number of transactions processed in a day so far. 2. National Electronic Funds Transfer (NEFT) system and Real Time Gross Settlement (RTGS) system are being managed by the Reserve Bank to settle the retail and wholesale payments, respectively. An important landmark was reached in the journey of these systems with NEFT and RTGS functioning on a
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FAQ :
The NEFT system achieved a new milestone by processing 4,10,61,337 transactions on February 29, 2024, the highest number of transactions processed in a single day.
The Reserve Bank of India manages both the National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) systems.
NEFT began operating 24x7x365 from December 16, 2019, and RTGS started operating on the same basis from December 14, 2020.
Between 2014 and 2023, NEFT saw a 700% growth in volume and 670% in value, while RTGS experienced a 200% growth in volume and 104% in value.
The RTGS system processed its highest ever volume of 16.25 lakh transactions in a day on March 31, 2023.
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