RTGS Facility will be Available 24×7 from Tonight: RBI

Debit/Credit Cards News

New Delhi: The trend of digital transactions has increased among the citizens due to the lockdown. To protect themselves from the coronavirus, most people are now doing all the banking work from home through online banking. Meanwhile, the Reserve Bank of India has taken several steps to make online transactions easier. The RTGS (Real Time Gross Settlement System) service will now be available 24 hours a day starting from December 14.

According to the Reserve Bank, the RTGS service will be available 24 hours a day from 12:30 pm on December 14. As a result of this move, India will be among the countries where 24-hour transaction services will be available RTGS service was launched 18 years ago in 2004 in only 3 banks. At present 236 banks are associated with this service. Through RTGS service, you can make money transactions by visiting a bank branch or sitting at home

You can use RTGS service for a large amount of money transactions. This service is used for transactions of at least Rs 2 lakh This service can be used online or by visiting a bank branch. There is no charge for fund transfer. However, if you do RTGS from the bank, you will have to pay a charge. NEFT service has been 24×7 since December last year.

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