NEFT & RTGS Systems Have Registered a Growth of 700% & 200% Respectively During 2014-23 | RBI
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- Last Updated on 4 March, 2024
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Press Release: 2023-2024/1985, Dated: 01.03.2024
The RBI has informed that during the previous ten years (2014-23), NEFT and RTGS systems have registered a growth of 700% and 200% respectively in terms of volume and 670% and 104% respectively in terms of value. The RBI has further indicated that the RTGS system processed its highest-ever volume of 16.25 lakh transactions in a single day on March 31, 2023.
Whereas, the NEFT system achieved a milestone on February 29, 2024, by processing 4,10,61,337 transactions, the highest number of transactions processed in a day so far. Both the National Electronic Funds Transfer (NEFT) system and Real Time Gross Settlement (RTGS) system are managed by the RBI to settle retail and wholesale payments respectively.
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