The Real-Time Gross Settlement System (RTGS) will be made available 24X7 on all days from December 14, said the Reserve Bank of India (RBI).
Just a year has been passed since RBI decided to make NEFT transactions round the clock. With these changes, India will be one of the few countries in the world that operate round the clock transactions.
The RTGS facility will be available 24X7X365 from 00.30 hours on December 14, said the RBI.
According to the RBI, Round-the-clock availability of RTGS will provide extended flexibility to businesses for effecting payments and will enable the introduction of additional settlement cycles in ancillary payment systems