RBI MPC member predicts ‘less severe’ high food inflation
The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) member highlighted that going ahead, as India develops, the problem of high food inflation would be "less severe".
The Reserve Bank of India (RBI)on Monday said that the Real-Time Gross Settlement (RTGS) service will not be available for 14 hours on April 18 (Sunday) due to a technical upgrade.
“A technical upgrade of RTGS, targeted to enhance the resilience and to further improve the Disaster Recovery Time of the RTGS system, is scheduled after the close of business of April 17, 2021. Accordingly, RTGS service will not be available from 00:00 hrs to 14.00 hrs on Sunday, April 18, 2021. The NEFT system will continue to be operational as usual during this period,” a statement from RBI said.
RBI also asked the member banks to notify the customers, asking them to plan their transactions accordingly. “Member banks may inform their customers to plan their payment operations accordingly. RTGS Members will continue to receive event update(s) through system broadcasts,” it said in the statement.
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“RTGS service will not be available from 00:00 hrs to 14.00 hrs on Sunday, April 18, 2021. The NEFT system will continue to be operational as usual during this period,” a statement from RBI said.
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