RTGS cash switch facility will stay unavailable for 14 hrs from tomorrow

The RTGS facility for high-value transactions will stay unavailable for 14 hours from midnight of Saturday to Sunday because of technical improve to additional enhance the catastrophe restoration time of the system, the RBI stated in a press release.

A technical improve of RTGS, focused to boost the resilience and to additional enhance the Disaster Recovery Time of the RTGS system, is scheduled after the shut of enterprise of April 17, the Reserve Bank of India stated on Monday.

“Accordingly, RTGS service will not be available from 00:00 hrs to 14.00 hrs on Sunday, April 18, 2021,” the RBI stated.

“Member banks may inform their customers to plan their payment operations accordingly,” it additional added. “RTGS Members will continue to receive event update(s) through system broadcasts,” the central financial institution talked about.

The RTGS facility was made out there round the clock on all days from December 14 final yr, making India one of many few international locations to function the system 24×7.

However, the National Electronic Funds Transfer (NEFT) system will proceed to be operational as normal throughout this era, RBI stated.

Subscribe to Mint Newsletters * Enter a sound e mail * Thank you for subscribing to our e-newsletter.