RTGS (Real Time Gross Settlement)
Definition
An RBI system for high-value transfers settled individually in real time; 24x7.RTGS settles fund transfers individually and continuously (in real time) rather than in batches, and operates 24x7. It is designed for high-value payments and carries a minimum transfer amount set by the RBI, with no upper ceiling mandated by the RBI.
Related guides
Related terms
- NEFT (National Electronic Funds Transfer) — An RBI electronic transfer system that settles transactions and now operates 24x7.
- IMPS (Immediate Payment Service) — An instant interbank transfer service available 24x7, run by NPCI.
- IFSC Code — An 11-character code identifying a specific bank branch in India's payment systems.
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