The “RTGS” Stands For ‘Real Time Gross Settlement’. It is an electronic payment system managed by Reserve Bank of India that allows the interbank transfer of funds on a real-time and on gross settlement basis.

‘Real-time’: It means that the payment transaction is not subjected to any waiting period. The transaction will be completed as soon as the processing is done.

Gross settlement: It means the money transfer is completed on a one to one basis without clustering with another transaction. 

Key Features

  • Real-Time, within a few minutes.
  • Minimum limit of Rs. 2,00,000.
  • It can be offered only by RTGS enabled branches.
  • Offered on bank working days between 8 am to 4 pm. Monday to Friday and working Saturdays.

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