Mumbai: The RTGS (Real-time gross settlement) funds transfer system will remain unavailable for 14 hours on Sunday.
Taking to twitter, the Reserve Bank of India (RBI) on Thursday said: “As technical upgrade of RBI's #RTGS is scheduled after the close of business of April 17, 2021, #RTGS service will not be available from 00:00 hrs to 14.00 hrs on Sunday, April 18, 2021.”
However, the National Electronic Funds Transfer (NEFT) will continue to be operational as usual during this period for money transfers, the tweet added.
The RTGS facility was made available round-the-clock on all days from December 14 last year, making India one of the few countries to operate the system 24x7.
Unlike the NEFT, RTGS is primarily meant for large value transactions as the minimum amount to be remitted through it is Rs 2 lakh with no upper or maximum ceiling.
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