RTGS to remain unavailable for 14 hrs from midnight on 17 April due to technical upgrade: RBI

RTGS to remain unavailable for 14 hrs from midnight on 17 April due to technical upgrade: RBI

The popular National Electronic Funds Transfer or NEFT for fund transfers of up to Rs 2 lakh will continue to be operational as usual during this period

RTGS to remain unavailable for 14 hrs from midnight on 17 April due to technical upgrade: RBI

Representational image. Reuters.

Mumbai: The RTGS for high-value transactions will remain unavailable for 14 hours from midnight of Saturday due technical upgrade to further improve the disaster recovery time of the system, the RBI said in a statment.

The popular National Electronic Funds Transfer or NEFT for fund transfers of up to Rs 2 lakh will continue to be operational as usual during this period.

A technical upgrade of RTGS, targeted to enhance the resilience and to further improve the Disaster Recovery Time of the RTGS system, is scheduled after the close of business of 16 April, the Reserve Bank of India said on Monday.

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

It further said banks may inform their customers to plan their payment operations accordingly.

The RTGS facility was made available round-the-clock on all days from 14 December, making India one of the few countries to operate the system 24×7.

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