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what is RTGS?
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Answer / rakesh panchal
The acronym “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. Considering
that money transfer takes place in the books of the Reserve
Bank of India, the
payment is taken as final and irrevocable.
| Is This Answer Correct ? | 83 Yes | 8 No |
RTGS MEANS REAL TIME GROSS SETTLEMENT, BY USING THIS
FACILITY YOU CAN TRANSFER THE FUND ABOVE RS 100000/- FROM
ONE BANK TO OTHER BANK IN SAME DAY.
| Is This Answer Correct ? | 35 Yes | 1 No |
Answer / durga prasad
RTGS means Real Time Gross Settlement
The RTGS system is primarily for large value transactions. The minimum amount to
be remitted through RTGS is Rs.1 lakh. There is no upper ceiling for RTGS
transactions. No minimum or maximum stipulation has been fixed for EFT and NEFT
transactions.
| Is This Answer Correct ? | 16 Yes | 4 No |
Answer / jeyakannan r
REAL TIME GROSS SETTLEMENT.It is basically used for funds
transfer from one bank to another Bank the volume of
1,00,000 and adove.It is mostly fast as well as very
reliable system for funds transfer.
| Is This Answer Correct ? | 12 Yes | 2 No |
Answer / sumeet agrawal
REAL TIME GROSS SETTELMENT..
ITS A TRANSACTION BETWEEN TWO ACCOUNT FOR TRANSFERING OF
FUNDS IMMEDIATELY..
| Is This Answer Correct ? | 8 Yes | 0 No |
Answer / ashish mor
REAL TIME GROSS SETTLEMENT.It is basically used for funds
transfer from one bank to another Bank the volume of
1,00,000 and adove.It is mostly fast as well as very
reliable system for funds transfer.
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / sudhir
It is a service offered by Reverse Bank of India to process
high value cash transactions safely between two accounts
| Is This Answer Correct ? | 5 Yes | 0 No |
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