Question

What is the Upper limit prescribed for RTGS transaction?

• A. Rs 1 lacs
• B. Rs 2 lacs
• C. Rs 5 lacs
• D. No uppemit is prescribed

Answer 1

The correct option is D No uppemit is prescribed

Under RTGS (Real Time Gross Settlement) the minimum amount that can be transferred is Rs 2 lakh or more. There is no maximum limit on transfers. This technology initiative was launched by RBI in 2004 for faster settlement of payment. As transfers through RTGS can be effected instantaneously, this is one of the fastest mode of transfer.