RTGS services will not be available for few hours on April 18: RBI

The Reserve Bank of India (RBI) on Monday said the RTGS service will not be available on April 18 due to a technical upgrade. Services will not be available from 00:00 hrs to 14.00 hrs on that day, 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 said in a release.

Member banks may inform their customers to plan their payment operations accordingly and RTGS Members will continue to receive event update(s) through system broadcasts, the RBI said Real-Time Gross Settlement (RTGS) is a payment system that will work on an instant basis without having to wait for some time for the settlement to happen.

Typically, the RTGS services are irrevocable once the settlement is done. The RBI had made RTGS available round the clock on all days from 12.30 AM December 14 last year.