Curious about RTGS
What is the purpose of RTGS?
The purpose of RealTime Gross Settlement (RTGS) is to enable largevalue interbank transfers in realtime basis, i.e., the transfer of funds takes place immediately and the settlement of the transaction is also done immediately, on a gross basis. It is primarily designed for facilitating largevalue transactions that require immediate settlement. It is used by individuals, corporates, and banks for transactions such as large fund transfers, foreign exchange transactions, highvalue government transactions, and money market transactions.