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RBI's settlement system not functioning due to strike

Usually real-time gross settlement starts early morning but today there is no settlement happening so far, a trader said. About 17,000 employees went on a strike called by four unions.

twitter-logo Reuters   Mumbai     Last Updated: November 19, 2015  | 11:36 IST
RBI's settlement system not functioning due to strike
About 17,000 employees went on a strike called by unions. (Photo: Reuters)

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.

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