Real Time Gross Settlement (RTGS) is a system used for the instantaneous transfer of funds between banks in India. It is an electronic payment system which facilitates the transfer of funds from one bank to another on a real-time basis. RTGS is used for large value transactions and is considered one of the most secure and efficient ways of transferring money in India.
What is RTGS?
RTGS is an electronic payment system used for the instantaneous transfer of funds between banks. This system is used for large value transactions, usually those amounting to more than two lakh rupees. It is an interbank payment system which allows for the transfer of funds between banks on a real-time basis. It is considered one of the most secure and efficient ways of transferring money in India.
RTGS transactions are processed and settled in real-time, meaning that the funds are transferred instantly, without any delay. The funds are transferred directly from the sender’s bank account to the receiver’s bank account. The funds are then credited to the receiver’s account within a few minutes.
What is the Full Form of RTGS?
The full form of RTGS is Real Time Gross Settlement. This term refers to the system of transferring funds from one bank to another on a real-time basis. It is used for large value transactions and is considered one of the most secure and efficient ways of transferring money in India.
RTGS stands for Real Time Gross Settlement System. This system is used for the instantaneous transfer of funds between banks. It is an electronic payment system which facilitates the transfer of funds from one bank to another on a real-time basis. The funds are transferred directly from the sender’s bank account to the receiver’s bank account. The funds are then credited to the receiver’s account within a few minutes.
RTGS is an electronic payment system used for the instantaneous transfer of funds between banks. It is an interbank payment system which allows for the transfer of funds between banks on a real-time basis. It is used for large value transactions and is considered one of the most secure and efficient ways of transferring money in India. The full form of RTGS is Real Time Gross Settlement, which refers to the system of transferring funds from one bank to another on a real-time basis.
