RBI's settlement system not functioning due to strike

Reserve Bank of India's settlement systems for banks and markets were not functional so far in the day as about 17,000 employees went on a strike called by unions, several traders said on Thursday.

"Usually RTGS (real-time gross settlement) starts early morning," said a dealer.

"Today there is no settlement happening so far," he said.

Another trader said market settlement applications run by the central bank were also not fully functional.