The RBI has announced that RTGS (Real Time Gross Settlement ) system will become 24x7 from December this year. Announcing the decision RBI governor Shaktikanta Das said, 'In order to facilitate swift and seamless payments in real time for domestic businesses and institutions, it has been decided to make available the RTGS system round the clock on all days from December 2020. India will be among very few countries globally with a 24x7x365 large value real time payment system.' In December 2019, the Reserve Bank made available the National Electronic Funds Transfer (NEFT) system on a 24x7x365 basis.