24*7*365 Bank RTGS Availability from 21st August

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The Reserve Bank of India (RBI) has informed that National Automated Clearing House (NACH) will be available on all days of the week from 21st August, 2021

NACH, a bulk payment system facilitates one to many credit transfers such as payment of dividend, interest, salary and pension along with collections of payments to electricity, gas, telephone mutual funds and insurance premium.

However, NACH is currently available on bank working days, but in order to further enhance customer convenience, and to leverage the 24×7 availability of real time gross Settlement (RTGS) it is proposed to be made available on all days of the week from the said date.

 

Click here for the official press release:


Knowledge Source:

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