No RTGS/NEFT Holiday on Ugadi/Gudi Pawadha on 16th March, 2010.

What Is UGADI?

No RTGS Holiday on Ugadi/Gudi Pawadha on 16^th March, 2010.

No NEFT Holiday on Ugadi/Gudi Pawadha on 16^thMarch, 2010.

ePayments i.e RTGS/NEFT are functioning normally on Ugadi/Gudi Pawadha on 16^th March, 2010

UGADI is a combination of two words-Yuga(era) and Aadi(beginning) according to the ancient language of Sanskrit and Kannada languages.

It simply means beginning of an era or a new year.

Ugadi/Gudi Pawadha, is celebrated mainly in South India and Maharashtra.

North India, does not celebrate this festival. Hence, no Holiday for RTGS has been declared.

This is the first major festival after the roll-out of the new timings for NEFT and the T+2 hours validation.

Normally, on holidays the staff at the RTGS/NEFT processing centers would be at a minimum. However, now with the increase in NEFT Cycles and the T+2 hours, it will be challenge to run the operations with minimum staff. All the staff would like to celebrate the festival with their family members.

Prior to 1^st March 2010, on Holidays in Maharashtra, the RTGS Special Interbank session form 7.00pm to 7.30pm, would not be there. However, with the new NEFT timings, this session will naturally be there.

In fact, the major challenges in the coming days, will be the well-being of employees operating in the Centralized Operations of Institutions.