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Answer Posted / ajay kumar
RTGS is an Electronic Payment Enviornment Processing ,
Where transations process on REAL TIME BASIS & SETTLE on
Gross SETTLEMENT BASIS (Without netting debit against
credit) or one by one basis.
R - REAL
T - TIME
G - GROSS
S - SETTLEMENT
Types of RTGS Transaction:
1. Customer Mode (MT-R41)- Amount Limit - 2 Lacs & Above
2. Interbank Mode (MT (R-42)- Amount Limit - Above Rs One.
Processing Time:
Amount should credit in beneficiary account in 2 hour.
Geographical Area:
Within Boundry means only in India.
Charges:
From 2-5 Lacs -Rs.25/-
Above 5 Lacs - Rs.50/-
Regards
Ajay Kumar
IDBI Bank Ltd
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