RBI's settlement system not functioning due to strike: dealers

17,000 employees went on a strike called by unions

Mumbai

: 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.\"

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