RTGS NOW AVAILABLE 24X7 FROM 14 DECEMBER
Reserve Bank of India on Wednesday announced that RTGS (Real Time Gross Settlement ) will be available 24x7 from 14 December 2020.
The announcement comes day after RBI governor had made statements in recently conducted Monetary Policy Committee meeting.
“India will be among very few countries globally with a 24x7x365 large value real time payment system. This will facilitate innovations in the large value payments ecosystem and promote ease of doing business,” RBI governor added.
RTGS is a financial transaction system, where there is continuous and real-time settlement of fund transfers, individually on a transaction-by-transaction basis. RTGS transactions or transfers have no amount cap.
What is the minimum amount to be remitted through RTGS?
The minimum amount to be remitted through RTGS is Rs 2 lakh with no upper or maximum ceiling.
No comments:
Post a Comment
If you have any suggestions, let me know