Banks face difficulties with real-time transactions due to BB server glitch

Banks have been experiencing difficulties with real-time transactions since this morning due to a glitch in Bangladesh Bank's server.

The Real-Time Gross Settlement (RTGS)" refers to a funds transfer system that allows for the instantaneous transfer of money or securities. It is the continuous process of settling payments on an individual order basis without netting debits with credits across the books of a central bank.

According to Bangladesh Bank's Executive Director, Debdulal Roy, the problem arises during the transfer of data from the Core Banking Solution (CBS) to Real-Time Gross Settlement (RTGS) while transferring funds.

However, he said, the glitch does not affect interbank transactions.

Efforts are underway to identify and resolve the issue, said Debdulal expressing hope that the issue will be rectified by tomorrow morning. 

The authorities are actively working on pinpointing the cause of the glitch, he added.

He said the National Payment Switch Bangladesh (NPSB) and Electronic Fund Transfer (EFT) system, both essential for interbank transactions, remain unaffected and fully operational.