Quick Summary
RBI announces date for launching of RTGS 24x7 Reserve Bank had announced in theStatement on Developmental and Regulatory Policies dated October 09, 2020, that the Real Time Gross Settlement System (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. 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
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FAQ :
RTGS will be available 24x7x365 with effect from 00:30 hours on December 14, 2020.
RTGS stands for Real Time Gross Settlement System.
India will become one of the few countries in the world to operate its RTGS system round the clock throughout the year, offering extended payment flexibility to businesses.
RTGS presently handles 6.35 lakh transactions daily.
The average ticket size for RTGS in November 2020 was ₹57.96 lakh.
It will provide extended flexibility to businesses for effecting payments, enable introduction of additional settlement cycles in ancillary payment systems, and can be leveraged to enhance operations of Indian financial markets and cross-border payments.
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