Financial Daily from THE HINDU group of publications
Sunday, Jul 18, 2004
Financial Daily from THE HINDU group of publications Sunday, Jul 18, 2004 |
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Money & Banking
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Information Technology Bank of Bahrain goes live with RTGS Our Bureau
Hyderabad , July 17 BANK of Bahrain and Kuwait announced that its Indian operations went live on Friday with the real time gross settlement (RTGS) system under the framework and guidelines of the Reserve Bank of India. In a press release here, the bank said RTGS is the RBI's initiative for online financial settlements. The system would enable instant transfer of funds between banks and financial institutions and helps banks manage intraday liquidity effectively. The RTGS system effects final settlement of inter-bank fund transfers on a continuous transaction basis throughout the processing day, the release said.
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