Reserve Bank of India’s NEFT system achieved a new milestone, processing a staggering 41 MM transactions in a single day, as per RBI’s circular released on March 1st, 2024. Montran is proud to be a part of this payments ecosystem, contributing to processing nearly half of this massive volume, through leading banks in India. This accomplishment resonates with our mission to unify the world financially, aligning with the country’s vision for a digitally empowered financial ecosystem.

Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) are electronic payment systems in India that facilitate interbank transactions, enabling payment processing between individuals and businesses likewise. Transactions can be initiated through various payment channels such as, Internet banking, Mobile banking, RRBs or from the bank branch, providing flexibility and convenience. RTGS processes transactions in real time, settling each transaction individually and instantly upon initiation.

To read the full press release, please click here
https://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=57435

About Montran

Montran is the leading provider of securities market and payments infrastructure solutions, serving over 80 countries with mission-critical facilities and operations. Discover more at https://www.montran.com.