<p>Mumbai: The Reserve Bank of India (RBI) has extended the timeline for banks to adopt new messaging standards in RTGS payment platform to March 31, 2014.</p><p>A new RTGS system was put in place in October this year that required banks to adopt ISO 20022 standard messaging formats.</p><p>Banks didn't take enough measures to handle the ISO 20022 standard messages and are still relying on temporary solution provided by their IT and service providers for conversion of messages.</p><p>The apex bank said that it received requests from banks to allow them to continue with the present arrangement till the required modifications were made at the core banking solution (CBS) at banks' end.</p><p><a href="http://profit.ndtv.com/news/industries/article-rbi-extends-deadline-for-banks-to-shift-to-new-messaging-standards-375567">Keep reading...</a></p><p>Read also:</p><p><a href="http://www.ptinews.com/news/4257001_Bank-deadline-to-shift-to-RTGS-standards-extended.html">Bank deadline to shift to RTGS standards extended</a> (Press Trust of India)</p><p>Explore: <a href="http://news.google.com/news/more?ncl=dHMbyOf-98qnjaMiAn8F4A5XtOqdM&ned=us">6 additional articles.</a></p>