3 important things to know about RTGS fund transfer facility
3 years, 8 months ago

3 important things to know about RTGS fund transfer facility

Live Mint  

RTGS or Real-Time Gross Settlement is a money transfer facility where there is a continuous and real-time settlement of fund-transfers, individually on a transaction-by-transaction basis. Real time, in this case, means processing of instructions at the time they are received, while gross settlement means the settlement of funds transfer instructions occurs individually. The processing of RTGS is different from the National Electronic Funds Transfer System as in the case of NEFT, the transactions are received at a particular time and are processed in batches. Further, to rationalise service charges levied by banks for offering funds transfer through the RTGS facility, take a look at a broad framework of charges.

History of this topic

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