NEFT-RTGS. money transfer

The RTGS (Real Time Gross Settlement) service will not be available from midnight on Saturday until 18 April Sunday at 2 pm. Meaning meanwhile 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 upgrade technologically to improve ‘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.

RTGS NEFT

After the end of business on 17 April 2021, Real-Time Gross Settlement will be technically upgraded to improve the capacity of the RTGS system and to make the ‘disaster recovery (disaster recovery) time easier.

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

Also Read: FLIPKART WILL ACQUIRE CLEARTRIP, DID NOT REVEAL THE VALUE OF THE DEAL

LEAVE A REPLY

Please enter your comment!
Please enter your name here