Press Releases - Payment and Settlement Systems - আরবিআই - Reserve Bank of India
প্রেস রিলিজ
নভেম্বর 02, 2007
RBI Introduces a System of Annual Review of
Payment and Settlement Systems in India
Payment and Settlement Systems in India
The Reserve Bank of India has today placed on its website the first Annual Report on the Payment and Settlement Systems in India. While there has been a number of initiatives for spreading the payment system network such as National Electronic Funds Transfer (NEFT) System, Electronic Clearing Services (ECS), Real Time Gross Settlement (RTGS) System and National Financial Switch (NFS), the feedback received showed that the level of awareness and familiarity with paymen
The Reserve Bank of India has today placed on its website the first Annual Report on the Payment and Settlement Systems in India. While there has been a number of initiatives for spreading the payment system network such as National Electronic Funds Transfer (NEFT) System, Electronic Clearing Services (ECS), Real Time Gross Settlement (RTGS) System and National Financial Switch (NFS), the feedback received showed that the level of awareness and familiarity with paymen
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অক্টোবর 19, 2007
RBI places on Website enhanced Draft on Financial Sector Technology Vision document (2008-2010) for comments
A vision document on technology and the financial sector was published in the public domain of the Reserve Bank of India's website in July 2005. With rapid changes in technology and the achievement of the plans outlined, this vision document was taken up for improvement and has since been enhanced to cover the immediate short term period between 2008 and 2010. Reserve Bank of India has today placed on its website (www.rbi.org.in) the revised draft Financial Sector Tec
A vision document on technology and the financial sector was published in the public domain of the Reserve Bank of India's website in July 2005. With rapid changes in technology and the achievement of the plans outlined, this vision document was taken up for improvement and has since been enhanced to cover the immediate short term period between 2008 and 2010. Reserve Bank of India has today placed on its website (www.rbi.org.in) the revised draft Financial Sector Tec
সেপ্টেম্বর 21, 2007
RBI places the Report of the Working Group on Preparing Guidelines for Access to Payment Systems for Public Comments
The Reserve Bank of India has today placed on its website the report of Working Group on preparing Guidelines for Access to Payment Systems for public comments. Comments may be addressed to the Chief General Manager, Reserve Bank of India, Department of Payment & Settlement Systems, Central Office, Fort, Mumbai 400001 or sent by <a href=# onclick=javascript:document.open('Bs_RbiEmailfeedback.aspx?name=rbi1','query_pop','width=460,height=330,top=90,left=520');re
The Reserve Bank of India has today placed on its website the report of Working Group on preparing Guidelines for Access to Payment Systems for public comments. Comments may be addressed to the Chief General Manager, Reserve Bank of India, Department of Payment & Settlement Systems, Central Office, Fort, Mumbai 400001 or sent by <a href=# onclick=javascript:document.open('Bs_RbiEmailfeedback.aspx?name=rbi1','query_pop','width=460,height=330,top=90,left=520');re
আগস্ট 01, 2007
RBI places on website Report of the Working Group on Standards for Raw Images of fingerprints for Public Comments
The Advisory Group on Information Technology for Financial Inclusion, set up by Reserve Bank of India, for evolving common/comparable standards for enabling IT based solutions for banking services, had suggested that a separate working group be constituted to deliberate and suggest suitable standards for raw images (finger prints). The Working Group constituted in April 2007 under the convenorship of Dr. A.M. Pedgaonkar, Chief General Manager, Department of Informatio
The Advisory Group on Information Technology for Financial Inclusion, set up by Reserve Bank of India, for evolving common/comparable standards for enabling IT based solutions for banking services, had suggested that a separate working group be constituted to deliberate and suggest suitable standards for raw images (finger prints). The Working Group constituted in April 2007 under the convenorship of Dr. A.M. Pedgaonkar, Chief General Manager, Department of Informatio
জানু 04, 2006
Coverage of RBI's RTGS System crosses 15,000 Bank Branches Mark
The coverage of the Reserve Bank of India's Real Time Gross Settlement (RTGS) System has exceeded 15,000 bank branches in the country. The target was achieved two months ahead indicating the popularity of the funds transfer service. It may be recalled that the Reserve Bank of India introduced the RTGS System in March 2004 with four bank branches on a pilot basis, only for inter-bank transactions. Subsequently, customer-based transactions were also taken up. The RTGS S
The coverage of the Reserve Bank of India's Real Time Gross Settlement (RTGS) System has exceeded 15,000 bank branches in the country. The target was achieved two months ahead indicating the popularity of the funds transfer service. It may be recalled that the Reserve Bank of India introduced the RTGS System in March 2004 with four bank branches on a pilot basis, only for inter-bank transactions. Subsequently, customer-based transactions were also taken up. The RTGS S
নভেম্বর 21, 2005
NEFT System goes live
The National Electronic Funds Transfer (NEFT) started live operations from Today. The objective of the NEFT system is to establish an Electronic Funds Transfer system to facilitate an efficient, secure, economical, reliable and expeditious system of funds transfer between banks in the banking sector using Structured Financial Messaging Solution (SFMS) backbone. For the time being there will be a single settlement per day at 12.00 noon. To begin with 8 banks will be pa
The National Electronic Funds Transfer (NEFT) started live operations from Today. The objective of the NEFT system is to establish an Electronic Funds Transfer system to facilitate an efficient, secure, economical, reliable and expeditious system of funds transfer between banks in the banking sector using Structured Financial Messaging Solution (SFMS) backbone. For the time being there will be a single settlement per day at 12.00 noon. To begin with 8 banks will be pa
সেপ্টেম্বর 16, 2005
RTGS coverage exceeds 10000 bank branches
The coverage of the Real Time Gross Settlement (RTGS) System exceeded the target of ten thousand bank branches in the country. Thanks to the aggressive strategies of the participating banks, the target was achieved six months ahead indicating thereby the popularity of the funds transfer service. It may be recalled that the RTGS System was introduced in March 2004 with just four bank branches on a pilot basis only for inter-bank transactions. Subsequently customer tran
The coverage of the Real Time Gross Settlement (RTGS) System exceeded the target of ten thousand bank branches in the country. Thanks to the aggressive strategies of the participating banks, the target was achieved six months ahead indicating thereby the popularity of the funds transfer service. It may be recalled that the RTGS System was introduced in March 2004 with just four bank branches on a pilot basis only for inter-bank transactions. Subsequently customer tran
মে 03, 2005
RBI releases Vision Document for Payment and Settlement Systems
The Reserve Bank of India today released the Vision Document for Payment and Settlement Systems. The document lists the accomplishments in the area of payment system during the last three years and gives a roadmap for its further advancement during the next three years. Safety, security, soundness and efficiency have been identified in the document as the key themes of the payment systems upgradation efforts. Whereas safety in payment and settlement systems relates to
The Reserve Bank of India today released the Vision Document for Payment and Settlement Systems. The document lists the accomplishments in the area of payment system during the last three years and gives a roadmap for its further advancement during the next three years. Safety, security, soundness and efficiency have been identified in the document as the key themes of the payment systems upgradation efforts. Whereas safety in payment and settlement systems relates to
আগস্ট 16, 2004
RTGS Services now for Bank Customers: RBI
The Reserve Bank of India has, today announced that its Real Time Gross Settlement (RTGS) System has been enabled for ‘Straight Through Processing’ at the participant’s, that is, the bank’s end for putting through customer transactions. Straight through processing of customer transactions will, upon receiving the credit advice, allow banks to directly credit the customer’s account without any manual intervention. This will facilitate introduction of T+1 settlement in
The Reserve Bank of India has, today announced that its Real Time Gross Settlement (RTGS) System has been enabled for ‘Straight Through Processing’ at the participant’s, that is, the bank’s end for putting through customer transactions. Straight through processing of customer transactions will, upon receiving the credit advice, allow banks to directly credit the customer’s account without any manual intervention. This will facilitate introduction of T+1 settlement in
মার্চ 26, 2004
RTGS System goes Live
The Real Time Gross Settlement (RTGS) System was put in live operations from 9.00 am today. For the time being inter-bank transactions are being put through and the customer related transfers will be enabled in due course.After about two weeks, other banks/primary dealers will join the System in a phased manner. Depending on their full technical and other preparedness, eligible participants will join the System at an interval of a week. It is expected that all prospec
The Real Time Gross Settlement (RTGS) System was put in live operations from 9.00 am today. For the time being inter-bank transactions are being put through and the customer related transfers will be enabled in due course.After about two weeks, other banks/primary dealers will join the System in a phased manner. Depending on their full technical and other preparedness, eligible participants will join the System at an interval of a week. It is expected that all prospec
ফেব 20, 2004
Pre-Launch Review of RTGS in India
The Real Time Gross Settlement (RTGS) system is being implemented in two phases in India. Under the first phase, the RTGS system with the functionalities for inter-bank fund transfer and customer based inter-bank fund transfer has reached an advanced stage of implementation. The RTGS system has been tested and is currently undergoing trial run with the participation of four banks. It is a complex and critical system.As a measure of abundant caution and also to provide
The Real Time Gross Settlement (RTGS) system is being implemented in two phases in India. Under the first phase, the RTGS system with the functionalities for inter-bank fund transfer and customer based inter-bank fund transfer has reached an advanced stage of implementation. The RTGS system has been tested and is currently undergoing trial run with the participation of four banks. It is a complex and critical system.As a measure of abundant caution and also to provide
জুলাই 21, 2003
Make Ordinary Bank Customer Ultimate Beneficiary of RTGS: RBI urges Banks
Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India today urged banks to ensure complete infrastructural and human resources readiness, and connectivity and security at their end so that the Real Time Gross Settlement (RTGS) facilities could percolate to the ordinary customers. He added that one of the primary objectives of every central bank is to put in place a modern, robust, secure and integrated payment and settlement system to enable the common man to make
Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India today urged banks to ensure complete infrastructural and human resources readiness, and connectivity and security at their end so that the Real Time Gross Settlement (RTGS) facilities could percolate to the ordinary customers. He added that one of the primary objectives of every central bank is to put in place a modern, robust, secure and integrated payment and settlement system to enable the common man to make
জুন 16, 2003
ACU Members call for Strengthening of Payment and
Settlement Mechanism
Settlement Mechanism
The Reserve Bank of India hosted the 32nd Board Meeting of the Asian Clearing Union (ACU) today, in Bangalore. The central bank Governors of Bangladesh, Bhutan, India, Iran, Myanmar, Nepal, Pakistan and Sri Lanka participated in the meeting. Two senior level officials from the Central Bank of Thailand also participated as observers. Formed in 1974, the ACU at present has eight members - Bangladesh, Bhutan, India, Iran, Myanmar, Nepal, Pakistan and Sri Lanka with headq
The Reserve Bank of India hosted the 32nd Board Meeting of the Asian Clearing Union (ACU) today, in Bangalore. The central bank Governors of Bangladesh, Bhutan, India, Iran, Myanmar, Nepal, Pakistan and Sri Lanka participated in the meeting. Two senior level officials from the Central Bank of Thailand also participated as observers. Formed in 1974, the ACU at present has eight members - Bangladesh, Bhutan, India, Iran, Myanmar, Nepal, Pakistan and Sri Lanka with headq
মার্চ 31, 2003
RBI introducing Special Electronic Funds Transfer
The Reserve Bank of India, in conjunction with the banks, has embarked upon a Special Electronic Funds Transfer (SEFT) Scheme. The Scheme would enable safe, secure and quick transfer of funds electronically across branches of banks at many centres of the country. The Scheme would be introduced from April 1, 2003, with the settlement taking place at Mumbai for inter-bank funds transfers.The salient features of the Scheme are:The Scheme is designed to provide for same d
The Reserve Bank of India, in conjunction with the banks, has embarked upon a Special Electronic Funds Transfer (SEFT) Scheme. The Scheme would enable safe, secure and quick transfer of funds electronically across branches of banks at many centres of the country. The Scheme would be introduced from April 1, 2003, with the settlement taking place at Mumbai for inter-bank funds transfers.The salient features of the Scheme are:The Scheme is designed to provide for same d
মার্চ 12, 2003
Mumbai Clearing House to be closed on March 14 and May 14 : RBI
The Reserve Bank of India has stated that the clearing house in Mumbai will not function on March 14, 2003 as the Government of Maharashtra has declared it as a holiday under the Negotiable Instruments Act, 1881 on account of Moharrum. Earlier, the holiday for Moharrum was declared on March 15, 2003. Now, the clearing house will function normally on March 15, 2003The clearing house in Reserve Bank of India in Mumbai will also remain closed on May 14, 2003 instead of M
The Reserve Bank of India has stated that the clearing house in Mumbai will not function on March 14, 2003 as the Government of Maharashtra has declared it as a holiday under the Negotiable Instruments Act, 1881 on account of Moharrum. Earlier, the holiday for Moharrum was declared on March 15, 2003. Now, the clearing house will function normally on March 15, 2003The clearing house in Reserve Bank of India in Mumbai will also remain closed on May 14, 2003 instead of M
ফেব 04, 2003
RBI Governor inaugurates CVPS in Mumbai
Dr. Bimal Jalan, Governor, Reserve Bank of India today inaugurated the Currency Verification and Processing System (CVPS) in Mumbai Office of the Reserve Bank of India. The currency verification and processing systems have been installed in the Reserve Bank offices for faster and secured processing of soiled currency notes. Weeding out soiled currency notes and replacing them with fresh ones are part of the Clean Note Policy being followed by the Reserve Bank of India
Dr. Bimal Jalan, Governor, Reserve Bank of India today inaugurated the Currency Verification and Processing System (CVPS) in Mumbai Office of the Reserve Bank of India. The currency verification and processing systems have been installed in the Reserve Bank offices for faster and secured processing of soiled currency notes. Weeding out soiled currency notes and replacing them with fresh ones are part of the Clean Note Policy being followed by the Reserve Bank of India
আগস্ট 05, 2002
Report of the Working Group on Electronic Money
The increase in the use of e-money in India in future could have far reaching effect on payments habit as also on the transmission mechanism of monetary policy. In order to examine these issues, the Reserve Bank of India had set-up a working group comprising officials from market participants and the Reserve Bank of India. The Chairman of the working group was Mr. Zarir J. Cama, Chief Executive Officer, Hongkong and Shanghai Banking Corporation. The working group subm
The increase in the use of e-money in India in future could have far reaching effect on payments habit as also on the transmission mechanism of monetary policy. In order to examine these issues, the Reserve Bank of India had set-up a working group comprising officials from market participants and the Reserve Bank of India. The Chairman of the working group was Mr. Zarir J. Cama, Chief Executive Officer, Hongkong and Shanghai Banking Corporation. The working group subm
ডিসেম্বর 15, 2001
RBI pushes for Retail and Electronic Trading of G-secs
The Negotiated Dealing System (NDS) will become operational from January 15, 2002. The system will operationalise, to begin with, by allowing members of Negotiated Dealing System (NDS) to put their bids electronically for repos and reverse repos under the Liquidity Adjustment Facility (LAF). In other words, from this date, the NDS members will not have to put in their bids/ applications in physical form for LAF auctions held daily by the Reserve Bank of India. This wa
The Negotiated Dealing System (NDS) will become operational from January 15, 2002. The system will operationalise, to begin with, by allowing members of Negotiated Dealing System (NDS) to put their bids electronically for repos and reverse repos under the Liquidity Adjustment Facility (LAF). In other words, from this date, the NDS members will not have to put in their bids/ applications in physical form for LAF auctions held daily by the Reserve Bank of India. This wa
মে 29, 2001
T + 1 Settlement of SGL transactions
In the Monetary & Credit Policy 2001-02, it was proposed that from June 2, 2001, all transactions in Government securities settled through the Subsidiary General Ledger (SGL)/Delivery versus Payment (DVP) system would be on T + 1 basis. The feedback from the market participants with whom Reserve Bank has had several rounds of consultation is that the date from which T + 1 settlement will be introduced for Subsidiary General Ledger settled transactions should be co
In the Monetary & Credit Policy 2001-02, it was proposed that from June 2, 2001, all transactions in Government securities settled through the Subsidiary General Ledger (SGL)/Delivery versus Payment (DVP) system would be on T + 1 basis. The feedback from the market participants with whom Reserve Bank has had several rounds of consultation is that the date from which T + 1 settlement will be introduced for Subsidiary General Ledger settled transactions should be co
জানু 16, 2001
Advisory Groups on "Payment and Settlement System" and on "Bankruptcy laws" Submit Reports
It may be recalled that Standing Committee on International Financial Standards and Codes was constituted in December 1999 in order to identify and monitor developments in global standards and codes, consider aspects of applicability of these standards to Indian financial system, periodically review the status and make available its reports to all concerned organisations in public or private sector. The Standing Committee chaired by Deputy Governor, Reserve Bank of In
It may be recalled that Standing Committee on International Financial Standards and Codes was constituted in December 1999 in order to identify and monitor developments in global standards and codes, consider aspects of applicability of these standards to Indian financial system, periodically review the status and make available its reports to all concerned organisations in public or private sector. The Standing Committee chaired by Deputy Governor, Reserve Bank of In
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