All sorts of payments including dividend, interest, salary, pension, to payments on electricity, gas, telephone, water, periodic instalments towards loans, investments in mutual funds, insurance premium, etc, can take place even on bank holidays now
Cheque-bounce cases need to be settled fast
×
Allowing courts to make summary convictions and discouraging the use of cheques can help reduce the huge pile-up of cases
The Supreme Court recently came out with a slew of directions to ensure speedy disposal of cheque-bounce cases. The court referred to a recent study that revealed more than 35 lakh cheque-bounce cases are pending, constituting more than 15 per cent of the total criminal cases pending in district courts.
The issue of prolonged litigation with respect to dishonoured cheques came to the court’s notice when it was hearing a case dating back to 2005 recently.
Updated Apr 17, 2021 | 11:39 IST
RBI has directed banks to inform their customers so that they can plan their payment operations accordingly. In the meanwhile, users can take advantage of the National Electronic Fund Transfer (NEFT) service Bank update! RTGS will not be functional on these dates
New Delhi: If you are planning large transactions of Rs 2 lakh or above on Sunday, you will have to reschdule as RTGS will not be functional for several hours. Reserve Bank of India (RBI) has notified that bank users will not be able to use the real-time gross settlement (RTGS) after the close of business hours on April 17, 2021, till 2 pm on Sunday, April 18, 2021.
: Thursday, April 15, 2021, 10:51 AM IST
Online money transfer to be hit: All banksâ RTGS service will not function this coming Sunday
Online money transfer to be hit: All banksâ RTGS service will not function this coming Sunday
Coming Sunday (April 18, 2021), real-time gross settlement (RTGS) will not be available from 12 am to 2 pm, stated the Reserve Bank of India (RBI). Due to some upgradation activity undertaken, the service will be hit.
RBI stated, âA technical upgrade of RTGS, targeted to enhance the resilience and to further improve the Disaster Recovery Time of the RTGS system, is scheduled after the close of business of April 17, 2021. Accordingly, RTGS service will not be available from 00:00 hrs to 14.00 hrs on Sunday, April 18, 2021.â
A technical upgrade of RTGS, targeted to enhance the resilience and to further improve the Disaster Recovery Time of the RTGS system, is scheduled after the close of business of April 17, 2021.