RTGS on a 14-hr hold as on Sunday due to technical up-gradation underway

RTGS on a 14-hr hold as on Sunday due to technical up-gradation underway

During this time, the common National Electronic Funds Transfer, or NEFT, for fund transfers of up to Rs 2 lakh, will be available as usual.

The RTGS for high-value transactions will be inaccessible for 14 hours starting at midnight on Saturday due to a software update to increase the system’s disaster recovery time, according to the RBI.RTGS on a 14-hr hold as on Sunday due to technical up-gradation underway

During this time, the common National Electronic Funds Transfer, or NEFT, for fund transfers of up to Rs 2 lakh, will be available as usual. 

The Reserve Bank of India(RBI) announced on Monday that a technological overhaul of the RTGS system would take place after the close of business on April 17 in order to increase the system’s stability and Disaster Recovery Time.

As a result, this service will be unavailable from 00:00 to 14.00 hours on Sunday, April 18, 2021, according to the RBI. Banks will also remind their customers to schedule their payment operations accordingly, according to the study. From December 14 last year, the RTGS facility was made available 24 hours a day, seven days a week, making India one of the first countries to do so.

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