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.