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Question

Answer the following question:
What is meant by R.T.G.S? Give any two features of R.T.G.S.

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Solution

Real Time Gross Settlement (RTGS) is an electronic form of funds transfer where the transmission takes place on a real time basis. In India, transfer of funds withRTGS is done for high value transactions, the minimum amount being Rs 2 lakh.The beneficiary account receives the funds transferred, on a real time basis.
features of an RTGS transaction that one should be aware of before using it:
  • Realtime online fund transfer.
  • Used for high value transactions.

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