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Reserve Bank of India (RBI) announced the 24X7 Real Time Gross Settlement (RTGS), used for large value transactions, facility from December 14. RBI Governor Shaktikanta Das announced that the RTGS facility would become operational 24X7 from 12:30 am tonight. The RBI had also announced a slew of measures including enhancing the limit for contactless card transactions to Rs 5,000. In December 2019, the National Electronic Funds Transfer (NEFT) system was made available on a 24x7x365 basis.
Reserve Bank of India (RBI) announced the 24X7 Real Time Gross Settlement (RTGS), used for large value transactions, facility from December 14. RBI Governor Shaktikanta Das announced that the RTGS facility would become operational 24X7 from 12:30 am tonight. The RBI had also announced a slew of measures including enhancing the limit for contactless card transactions to Rs 5,000. In December 2019, the National Electronic Funds Transfer (NEFT) system was made available on a 24x7x365 basis.
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