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Saturday, April 11, 2009

April 14th, 2009, Dr.Ambedkar Jayanti, is a working day for ePayments(RTFS/NEFT), on the day of Publication of this Post.

April 14th, 2009, Dr.Ambedkar Jayanti, is a working day for ePayments(RTFS/NEFT), on the day of Publication of this Post. 

One key advantage of ePayments (RTFS/NEFT), is that, ePayments(RTFS/NEFT),  will be available on all working days except Sundays and other national holidays, whether it is a holiday in a particular state or not, RTGS will function. 

ePayments(RTFS/NEFT),will be open, as long as any 2 RBI Centres,  out of Mumbai, Delhi, Calcutta, Madras, Hyderabad and Bangalore work. As per the Original List of Holiday’s,  April 14th, 2009, is a working day New Delhi and Calcutta, hence ePayments(RTFS/NEFT),were open. 

However, as per Notification http://delhigovt.nic.in/leave_on(14%20April)_English.pdf, April 14th, 2009, has been declared a Holiday in New Delhi, under the NI Act. 

This means out of the 6 RBI Centres only Calcutta, will be functioning. So far, there is no news of a holiday under NI Act, being declared on April 14, 2009, in Calcutta.

We have to wait and see, if RBI decides to declare a holiday for ePayments(RTFS/NEFT),on April 14th, 2009, or decides to keep open the ePayments(RTFS/NEFT). This will be known only on 13th April, 2009, Monday. 

However, there are slim chances of RBI deciding to declare a Holiday on April 14th, 2009, as today i.e Saturday,11th April 2009,  there is no decision from RBI. 

Customers are executing more and more ePayments(RTFS/NEFT),transactions thru, Online Banking, and a sudden holiday, may lead to schedules going haywire. However, there will be very few Branch Originated transactions on April 14th, 2009.

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