The Reserve Bank of India (RBI) has announced that the 24x7 RTGS (Real Time Gross Settlement) facility will be operationalised from early morning of December 14 to enable round-the-clock transfer of money.
RTGS is generally used for high-value financial transactions.
“RTGS facility becomes operational 24x7 from 12.30 a.m. tonight. Congratulations to the teams of RBI & IFTAS and service partners who made this possible,” Shaktikanta Das, Governor, RBI said in a tweet.
The move is part of RBI’s plans to push digital payments in the country.
Currently, RTGS facility is available from 7 a.m. to 6 p.m. on all working days of the week, except second and fourth Saturdays.
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