Real-Time Gross Settlement is referred to as RTGS. With the RTGS system, funds are transferred in “real-time” and on a gross basis between banks..
RTGS is the quickest form of money transfer when using the banking method. Real-Time refers to a payment transaction that takes place immediately
Large value transactions are largely handled via the RTGS system. The smallest sum that can be transferred via RTGS is Rs. 2 lakhs. For RTGS transactions, there is no upper limit.
The process of transferring money from one bank to any another bank on real time and on gross basis is called Real Time Gross Settlement (RTGS).The process goes on a one-to-one basis and is very suitable for high value transfer.
