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Important banking update: You won’t be able to do RTGS for 14 hours from Saturday night

RTGS

New Delhi: The RTGS (Real Time Gross Settlement) service will not be available from Saturday midnight until Sunday, April 18 at 2 pm. It means the RTGS service will be interrupted for 14 hours. Whereas, National Electronic Funds Transfer (NEFT) will continue to function as before. The Reserve Bank of India (RBI) has given information about this. Actually, this service will not be available to technically upgrade to improve the ‘disaster recovery’ time.

The RBI has stated in the statement that RTGS service will not be available from 00:00 hrs (Saturday night) to 14.00 hrs (till Sunday) on 18 April 2021.

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After the end of business on April 17, RTGS will be technically upgraded to improve the capacity of the RTGS system and to make the disaster recovery time easier.

Member banks may inform their customers about their payment operations plans accordingly. The RTGS facility is available 24 hours from December 14 last year. With this, India is among the few countries where this facility works for 24 hours.

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