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RTGS

RTGS

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Published by Kushal Jain

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Categories:Types, Business/Law
Published by: Kushal Jain on Jul 03, 2012
Copyright:Attribution Non-commercial

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05/13/2014

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RTGS
NAVITAS
Amit, Dhananjay,Kushal, R.D.B,Sarat Chandra,Pradyumna
Real Time Gross Settlement
 
RTGS- Real Time Gross Settlement
Introduced in India since March 2004
Electronic instructions given by remitting banks totransfer funds to beneficiary bank.
Maintained and operated by RBI
Provides fast and efficient fund transfer
RTGS
 
Funds transfer between banks takes place on a ‘
Real time’
basis
i.e., , money reaches the beneficiary instantaneously
Beneficiary bank has to credit the amount within twohours
'Gross settlement
' means the transaction is settled on
oneto one basis
No bunching
RTGS - MEANING

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