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Interbank transactions in Bangladesh resumed on Tuesday morning as the technical glitch in the Real Time Gross Settlement (RTGS) server of Bangladesh Bank was resolved.
Sarwar Hossain, a spokesman for the central bank, said technicians were able to resolve the issue on Monday night and transactions through the RTGS system resumed at 10 am on Tuesday.
Public and private banks also confirmed the resumption of transactions. The RTGS was operational in the Motijheel branches of Pubali Bank, Eastern Bank and Exim Bank, among others, reports bdnews24.com.
On Monday, the glitch in RTGS server forced the central bank to stop all sorts of inter-bank transactions.
Customers could not submit cheques from other banks to their accounts on Monday, while the Bangladesh Bank also cancelled all inter-bank transaction orders. The banks were told to be ready to complete the inter-bank transactions manually in the first half of Tuesday.
The server of the central bank’s National Payment Switch of Bangladesh or NPSB was down for six hours over a technical problem in April, hampering ATM, internet banking and POS transactions.
Customers can make transactions within 30 minutes through the RTGS system. Import duties can also be paid through this system.
According to the central bank, around 8,000 branches of the commercial banks are connected to the RTGS server. Latest data shows 827,825 transactions worth Tk 549.3 billion took place through the RTGS facility in June. The system was also used for 57,399 transactions worth $1.87 billion last month.