Central Banking

India's RTGS launch likely by end of March

The Reserve Bank of India has now proposed "hopefully" to launch its Real Time Gross Settlement System before the end of March.

An earlier RBI timetable had specified standalone implementation of Real Time Gross Settlement (RTGS) by January 2004 and full implementation by June.

The Chief General Manager-in-charge, Department of Information Technology, RBI, Mr R. Gandhi, said: "The delays have taken place because the system is very complex and we want banks to have full comfort before it goes l

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