24×7 RTGS facility to become operational from December 14

This is part of RBI’s plans to push digital payments in the country.

The Reserve Bank of India (RBI) has announced that the 24×7 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 24×7 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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