All payment systems to remain closed on April 1, 2017: RBI

All payment systems to remain closed on April 1, 2017: RBI

Economy

GlobalLinker Staff

GlobalLinker Staff

31 Mar 2017, 16:53 — 1 min read

The Reserve Bank of India (RBI) has stated that all payment systems will remain closed on April 1, 2017. This is a departure from the earlier directive which stated that all payment systems, including RTGS and NEFT would operate, as on a normal working day, during the period March 25 to April 1, 2017 (including Saturday, Sunday and all holidays).

The RBI further stated that a separate broadcast message in this regard will be issued through the respective system to the member banks. It also clarified that the special clearing operation on 30 and 31 March remains unchanged.

Normally banks remain shut on April 1 as it is the annual closing day of accounts.

Business owners are advised to keep this directive in mind while scheduling their banking activities.

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