New Delhi: RTGS (Real-Time Gross Settlement) facility becomes operational 24X7 from 12:30 am tonight, said RBI Governor Shaktikanta Das.
RTGS, which began its operations on March 26, 2004, with a soft launch involving four banks, presently handles 6.35 lakh transactions daily for a value of Rs4.17 lakh crore across 237 participant banks. The average ticket size for RTGS in November 2020 was Rs 57.96 lakh.
Round-the-clock availability of RTGS will provide extended flexibility to businesses for effecting payments and will enable introduction of additional settlement cycles in ancillary payment systems, the RBI said. This can also be leveraged to enhance operations of Indian financial markets and cross-border payments, the RBI said.
