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What is RTGS?

Curious about RTGS

What is RTGS?

RTGS stands for Real Time Gross Settlement. It is a payment system used in India for transferring funds from one bank account to another. It is a realtime system, which means that the transfer of funds happens immediately and gross, which means that each transaction is settled individually instead of being netted out with other transactions. The RTGS system is maintained by the Reserve Bank of India (RBI) and is available to individuals, businesses, and other organizations that have accounts with banks that are part of the system. The minimum amount that can be transferred through RTGS is Rs. 2 lakh.

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