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All payment systems to remain shut today

By Vicky

The Reserve Bank of India has now said that all payments systems will remain closed on April 1. This statement comes a few days after the RBI had said that banks would remain open on April 1. The annual closing day for accounts in April 1.

All payment systems to remain shut on April 1

As a result of this new directive, channels such as RTGS and NEFT would remain closed on Saturday. Debit and credit card transactions would however function as normal the RBI also pointed out.

On March 25, the RBI had said that all payment systems would function as normal on April 1. However the decision was changed after reconsideration. A seperate message to this effect will be released by the RBI. The RBI however sought to clarify that the special clearing operation on March 30 and 31 would remain unchanged.

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