Real Time Gross Settlement Current Affairs, GK & News

NEFT to be available 24X7

The Reserve Bank of India has announced that the National Electronic Funds Transfer (NEFT) facility will be available round-the-clock basis from December 2019. At present NEFT payment system operated by the Reserve Bank as a retail payment system is available for customers from 8 AM to 7 PM on all working days of the week ..

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RBI’s Working Group recommends extension of market hours

An Internal Working Group of Reserve Bank of India (RBI) on Comprehensive Review of Market Timings has suggested calibrated extension of Currency Market (Foreign Exchange Market) hours, from 9 am to 9 pm for both Over the Counter (OTC) and Exchange Traded. At present the markets close at 5 pm. Key Highlights of Draft Report ..

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RBI releases ‘Payment and Settlement Systems in India: Vision 2019 – 2021’

The Reserve Bank of India (RBI) has released a vision document – Payment and Settlement Systems in India: Vision 2019 – 2021 – with its core theme of ‘Empowering Exceptional E-payment Experience’, for ensuring a safe, secure, convenient, quick and affordable e-payment system. The move comes as the apex bank expects the number of digital ..

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Zimbabwe introduces its new currency ‘RTGS dollar’

Zimbabwe has recently introduced its new currency, dubbed as Real Time Gross Settlement (RTGS) dollar, after the Reserve Bank of Zimbabwe (RBZ) announced measures to try and resolve a chronic monetary crisis. The new currency replaces electronic bank savings called digital dollars and the bond notes, and was named after the RTGS system that banks ..

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Watal Committee recommendations for a cashless India

A 11-member committee set up under former finance secretary Ratan Watal on August 23 to suggest ways of promoting digital transactions in the country has submitted its report to Finance Minister Arun Jaitley. The following are the list of suggested recommendations: The Payments Regulatory Board (PRB) to be formed as an independent payments regulator within the ..

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