Real Time Gross Settlement System (RTGS)
Transfer - any amount of Rs. 2, 00,000 and above within 2 Hours to Any Bank / Account Anywhere in India. There will no floor or cap value for customer transactions, which are sent to the RTGS System for settlement.
About RTGS System:-
- "RTGS" stands for Real Time Gross Settlement.
- RTGS system is a funds transfer mechanism where transfer of money takes place from one bank to another on a "real time" and on "gross" basis.
- This is the fastest possible money transfer system through the banking channel.
- Settlement in "real time" means payment transaction is not subjected to any waiting period.
- The transactions are settled as soon as they are processed.
- "Gross settlement" means the transaction is settled on one to one basis without bunching with any other transaction.