Central Banking

RBI launches ‘advanced’ new RTGS system

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Raghuram Rajan, the governor of the Reserve Bank of India (RBI), has unveiled a new real-time gross settlement (RTGS) system that aims to boost the efficiency of large-value transactions in the country.

The central bank touted the system's many new features, which it hopes will "significantly improve" the efficiency of financial markets. The system sits at the heart of India's payment systems, accounting for nearly 58% of the total value of transactions made in August – although it handled just

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