RTGS Full Form

What is the Full form of RTGS?

The full form of RTGS is Real Time Gross Settlement, it is a money transfer process that is performed in real-time and without delays. RTGS requires Net Payment which implies that activities are carried out at an individual level without delay and not in batch-wise process. RTGS is one of the fastest methods of transferring Interbank funds via online banking in India. Transfer of the funds takes place between the two accounts in 30 minutes. While transferring money using RTGS method the following information is required

  • The amount of money which is to be transferred
  • Name of recipient and payee
  • Name of payee and recipient bank
  • Payee/beneficiary bank IFSC code
  • Payee/beneficiary bank account number

The RTGS money transfer method is operated by the Indian Reserve Bank and thus it is one of the famous and safe methods of transfer of funds.

Advantages of RTGS

RTGS is a common approach of transfer of funds in India, with a variety of features. The advantages of using RTGS as the procedure for money transfers are:

  • Reserve Bank of India maintains the RTGS system, which is a secure and safe method of funding.
  • There is no room for lag since activities are carried out on a real-time basis.
  • The use of RTGS in India is without geographical boundaries.
  • Fund transfer is very convenient and can be done from the office or home.

RTGS Timing And Limit

RTGS Timing Monday to Saturday(Leave on 2nd and 4th Saturday) – 8.00 to 4.30 am
RTGS Limit Minimum 2 lakhs to no upper ceiling limit.

Difference Between RTGS And NEFT

RTGS refers to Real-Time Gross Settlement. Under this scheme, the beneficiary bank provides direct instructions for the transfer. The payment is gross, so each transaction is performed individually. These payments are final, and can not be withdrawn.

The main difference between NEFT and RTGS is that, unlike RTGS, the movement of funds occurs in batches. Hourly intervals are fixed for this reason, and the settlement is assigned to one such time slot.


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