Central Banking

RBI plans RTGS cover for 5000 branches

The Reserve Bank of India said it plans to bring another 5,000 bank branches under the Real Time Gross Settlement (RTGS) system mechanism by June 2006.

Speaking on the sidelines of the "Banking Tech Summit - 2006", organised by the Confederation of Indian Industry (CII) on Monday, RBI executive governor Dr RB Barman said, "We have 15,000 bank branches where RTGS mechanism is already in place and which covers about 85% of the total business in terms of credit and deposit. We plan to extend the