Banking Term: RTGS

Find important banking term that is useful in upcoming banking exam.

May 5, 2015 16:05 IST

Banking Term: RTGS

  • Real time gross settlement is a fund 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.
  • The RTGS system is primary for large value transaction.
  • The minimum amount is Rs. 1 Lakh and there is no upper ceiling for RTGS transaction while the minimum and maximum stipulation has been fixed for EFT and NEFT.

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