May 17, 2021 07:48 PM
RTGS Services, Neft (National Electronic Funds Transfer) services for online transactions will be disrupted. The Reserve Bank of India (RBI) today announced on Twitter that the services will not be available for 14 hours next Sunday. Revealed that these services will be suspended due to technical reasons.
“We are carrying out technical updates on the software after the close of business on May 22 to further improve Neft ‘performance. Therefore, NEFT services will not be available from 00.01 pm on May 23 (i.e. from 12 midnight on May 22) until 2 pm. However, RTGS services will continue as usual, ”the RBI said. The respective banks will inform their customers on this.
RTGS Services: On April 18, the Reserve Bank undertook a similar technical upgrade in the RTGS technology system. It is learned that RBI has made Neptune services available 24 × 7 hours from December 2019.
The Reserve Bank of India (RBI) has notified that bank users will not be able to use the real-time gross settlement (RTGS) after the close of business hours on April 17, 2021, to 2 pm on Sunday, April 18, 2021. India’s Central Bank has cited technical upgrade of its RTGS facility as the reason behind this temporary shut down.
In its official statement, the RBI said, “A technical upgrade of RTGS, targeted to enhance the resilience and to further improve the Disaster Recovery Time of the RTGS system, is scheduled after the close of business of April 17, 2021”.
The RBI has also directed banks to inform their customers so that they can plan their payment operations accordingly. In the meanwhile, users can take advantage of the National Electronic Fund Transfer (NEFT) service to facilitate their funds during this period.