What changed
RTGS, previously limited to specific hours, became available 24x7 from 00:30 hours on December 14, 2020, for all days of the year. The only exception is the interval between end-of-day and start-of-day processes, whose timings are broadcast through the system. Intra-Day Liquidity facility continues, but any IDL availed must be reversed before end-of-day begins.
What it means for you
Banks can now process high-value payments anytime, reducing settlement risk and improving liquidity management. Customers gain flexibility for urgent transactions outside banking hours. Banks must invest in STP infrastructure to handle automated processing during non-business hours and ensure IDL is settled daily.
What you must do
- Set up STP-enabled systems to automate RTGS transactions after normal banking hours.
- Inform all customers about the new 24x7 RTGS availability and any cut-off timings for end-of-day processes.
- Ensure IDL availed is reversed before the end-of-day process begins each day.
- Monitor RTGS system broadcasts for end-of-day/start-of-day timing updates.
Who it affects
All member banks participating in RTGS, Bank customers using RTGS for high-value transfers, Bank IT and operations teams managing payment systems
When did 24x7 RTGS become operational?
RTGS became available round the clock from 00:30 hours on December 14, 2020.
Are there any downtime periods in 24x7 RTGS?
Yes, there is a brief interval between end-of-day and start-of-day processes, whose timings are broadcast through the RTGS system.
What is required for banks to offer 24x7 RTGS?
Banks need STP-enabled infrastructure to automate transactions after normal banking hours and must inform customers about the extended availability.