RBI informs to the public at large of 14 hours RTGS Shutdown on April 18, 2021, Sunday between 00.00 Hrs to 14.00 Hrs

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          Reserve Bank of India vide Press Release informed all stakeholders regarding RTGS shut down for 14 hours on from 00.00 Hrs to 14.00 Hrs. on Sunday, April 18, 2021

          The shutdown is for technical upgrade of RTGS system, especially from the viewpoint of Disaster Management.

           During this RTGS shutdown time, NEFT will function as usual and there will be no impact on NEFT transactions.

          Customers can continue to send and received monies through the NEFT channel. Almost all the banks offering RTGS also offer NEFT. In majority of the use cases, the same IFS Code is valid for NEFT and RTGS transactions.

          Hence, there will be minimal disruption on businesses during the 14-hour shutdown time.

          The only impact may be on   pre-scheduled RTGS Transactions. Such transactions will be very few in numbers.  

          Reserve Bank of India opened the 24*7, 365 days a week RTGS window from 15th December 2020. Since then, there have a good number of RTGS transactions on banking holidays.

          This reflects the readiness of Indian corporates to move / receive high value funds on holidays too.

          Reserve Bank of India, further informed Member banks to inform their customers to plan their payment operations accordingly.

RTGS Members will continue to receive event update(s) through system broadcasts.




 

 

 

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