to name a few. The facility for inter-bank funds settlement through RTGS is available today across more than 53,000 branches of banks spread across the length and breadth of the country. Today while we have settled close to 100,000 transactions in the RTGS, the average is around 60,000 per day. Therefore the volume of transactions per branch is still in single digits.
At the same time the country is clearing paper cheques close to 50 lakhs per day, with the so called High Value Clearing clocking large volumes. The high value clearing which settles on T+0 basis was introduced in this country when we did not have any electronic products. Today this clearing entails high levels of operational risk.