On Monday, the Reserve Bank of India (RBI) issued a notification and said the National Electronic Funds Transfer (NEFT) facility will be available for 14 hours on Sunday, May 23. NEFT Members will continue to receive event update(s) through NEFT system broadcasts." The RBI notification, however, said that the Real-Time Gross Settlement (RTGS) facility will operate as usual during this period. It was in April 2021 that NEFT and RTGS facilities were extended by the RBI to non-bank payment system operators. These entities will, however, not be eligible for any liquidity facility from the Reserve Bank to facilitate settlement of their transactions in these CPSs.

Source: dna May 18, 2021 10:41 UTC