Update Channel_backups.md

docs/Channel_backups.md

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+### Channel Backups
 Static Channel Backup APIs of LND has been leveraged to provide channel backup feature on RTL.
 
 #### Backup folder location
+Default location: If no folder location is specified in the RTL conf files (single or mult-node setup), RTL will create a folder `backup` on the RTL root. If multiple nodes are being managed via RTL, multiple node sub-folders will be created in the `backup` folder.
+
+User defined: User can specify the folder where channel backups should be created, by setting a config variable `channelBackupPath` in the `RTL.conf` or `RTL-Multi-Node-Conf.json` files. Please ensure that RTL has the permission to write in the specified folder location in the conf files.
+
+#### Backup execution
+Channel backups will be taken at the following instances:
+
+- Server startup: RTL will automatically execute all channel backup, everytime the server is started.
+- Channel open/close: RTL will automatically execute all channel backup, everytime a new channel is opened or an existing channel is closed.
+- Manual backups: A user can also manually execute the backup commands. The menu options are available on the `Backup` page under `Channels`. User can take all channel backups or individual channel backups as well as verify all/individual channel backup files.