RTGS Timings and How it Will Make Banking Easier for You
In October this year, the Reserve Bank of India had announced that the Real Time Gross Settlement System, which is put into use for large value transactions, will be available round-the-clock from December 2020. Shaktikanta Das, the governor of the Reserve Bank of India, announced this development and said that customers will now be able to avail round-the-clock availability of Real-Time Gross Settlement System. He also said that this would facilitate India’s efforts to develop international financial centres which will be able to provide wider payment flexibility to domestic corporate and institutions. “With this, India will be one of the very few countries globally with a 24x7x365 large value real-time payment system,” Das had said after the meeting of the Monetary Policy Committee.
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