'New RTGS system to improve financial market efficiency'

RBI Governor Raghuram Rajan today said the new real time gross settlement (RTGS) system for fund transfers will improve the efficiency of the country's financial markets. "With its advanced liquidity and queue management features, the new RTGS system is expected to significantly improve the efficiency of financial markets," Rajan said while inaugurating the ISO 20022-compliant system. The RTGS system is used to settle interbank fund transfers by banks and their customers and is critical in facilitating orderly settlement of payment obligations. With its implementation, new regulations will replace the operating guidelines and regulations of 2004. 

Read more >> Click here