Question

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

Answer 1

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.