RTGS HOLIDAYS 2016

'RTGS' stands for Real Time Gross Settlement, which can be defined as the continuous (real-time) settlement of funds transfers individually on an order by order basis (without netting). 'Real Time' means the processing of instructions at the time they are received rather than at some later time; 'Gross Settlement' means the settlement of funds transfer instructions occurs individually (on an instruction by instruction basis). Considering that the funds settlement takes place in the books of the Reserve Bank of India, the payments are final and irrevocable.

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On the below mentioned dates RTGS payments will not working as RBI observe holidays for RTGS on these days.

RTGS Holidays – 2016

Sr. No.	Date	Day	Occasion
1	January 26, 2016	Tuesday	Republic Day
2	March 25, 2016	Friday	Good Friday
3	April 1, 2016	Friday	Annual Closing of banks
4	August 15, 2016	Monday	Independence Day
5	October 11, 2016	Tuesday	Dussehra / Vijaya Dasami
6	October 12, 2016	Wednesday	Moharram