Be Careful – RTGS/NEFT closed for a long weekend.

RTGS/NEFT will be closed on 02/07/2012, as on July 2^nd RBI is closed due to its Annual Closing of Accounts.

July 1^st, 2012 is a Sunday, so RTGS/NEFT will be closed continuously for 2days. Being the beginning of the month, there will be huge volumes on 3^rd July. It is advisable to plan any transfer via RTGS/NEFT carefully, for the next week or so.

Transactions that settle on T+0 basis cannot be put through on July 2, but markets participants may be able to do transactions that settle other than on T+0 basis.

Well, IMPS(Interbank Mobile Payment Service) will be open and Bank customers will be able to transfer funds via the IMPS mode. Hm, the surge in volumes will depend on the publicity around IMPS.

02/04/2012 – RTGS/NEFT are closed, but there are other alternates.

5 alternates for Safe ePayments on 02/04/2012

1. IMPS – Interbank Mobile Payment Systems. With 37 banks on the IMPS network, IMPS is the best alternate.

2. Credit Cards – Use carefully, keeping in view your billing cycle.

3. Debit Cards – Shop till the amount available in your account.

4. Visa Card-to-Card Transfer - Accessible via most Indian Banks ATM's or Netbanking

5. Master Card-to-Card Transfer - One more option for bank's customers.

So, what mode do you intend to access on 02/04/2012

23 Mar 2012 – RTGS/NEFT/IMPS are working.

Banks in the following States will be closed for UGADI / 1st NAVRATRA / GUDI PADVA / TELUGU NEW YEAR'S DAY on 23/03/2012.

The States are : Andhra Pradesh, Karnataka, Tamilnadu, Goa.

26/01/2012 - RTGS/NEFT Closed. IMPS Open

26/01/2012 - India's Republic Day. 
RTGS/NEFT and all other clearing systems are closed for the day i.e 26/01/2012.


So, you can try out IMPS for inter-bank transfers.
Try IMPS, ATM Transfer, Net Banking Transfer, Mobile Banking Transfer alternates for Intra-Bank Transfers.


Enjoy the Republic Day festivities.