RBI’s system hit

MUMBAI: Reserve Bank of India (RBI)’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.