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  • Rtgs Real Time Gross Settlement.: - by K.Abigail Maryann

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    RTGS allows for real-time transfers of money between banks on a gross basis, meaning the transactions are final and irrevocable once processed. It has a minimum transaction limit of Rs. 2 lakhs and no maximum limit. The process involves the payer's bank entering details into its central system, which are then sent to the RBI central system to transfer funds to the receiving bank's central system and ultimately credit the beneficiary's account. NEFT allows one-to-one transfers that are processed hourly in batches, saving time but with a lag until completion.

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    RTGS allows for real-time transfers of money between banks on a gross basis, meaning the transactions are final and irrevocable once processed. It has a minimum transaction limit of Rs. 2 lakhs and no maximum limit. The process involves the payer's bank entering details into its central system, which are then sent to the RBI central system to transfer funds to the receiving bank's central system and ultimately credit the beneficiary's account. NEFT allows one-to-one transfers that are processed hourly in batches, saving time but with a lag until completion.

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    4 views7 pages

    Rtgs Real Time Gross Settlement.: - by K.Abigail Maryann

    Uploaded by

    Random stuff
    RTGS allows for real-time transfers of money between banks on a gross basis, meaning the transactions are final and irrevocable once processed. It has a minimum transaction limit of Rs. 2 lakhs and no maximum limit. The process involves the payer's bank entering details into its central system, which are then sent to the RBI central system to transfer funds to the receiving bank's central system and ultimately credit the beneficiary's account. NEFT allows one-to-one transfers that are processed hourly in batches, saving time but with a lag until completion.

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    © All Rights Reserved
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    of 7

    Rtgs

    Real time gross


    settlement.
    -By K.Abigail Maryann
    NEFT : NATIONAL ELECTRONIC FUND TRANSFER
    NEFT is Provided to bank customers to transfer funds easily
    and securely on a one-to-one basis.
    Gained popularity due to it saving on time and the ease
    with which the transactions can be concluded

    This is a "net" transfer facility which is executed in hourly


    batches resulting in a time lag.
    No Minimum Or Maximum Limit on the amount of
    transaction.
    Rtgs : REAL-TIME GROSS settlement SYSTEMS

    Transfers Money or Securities from One Bank to


    another on a "Real Time.
    Gross means the transaction takes place on gross basis.

    Settlement means that once processed, payments are final


    and irrevocable.
    There is minimum limit for transaction is Rs.2lakhs and
    there is No Maximum Limit.
    Rtgs process flow

    RTGS Instructor Records the details


    Slip & confirms.
    Payer
    Senders
    Bank
    remitting bank feeds
    the details in its
    central processing RBI
    system.

    Receiving
    Bank receiving bank's central processing system transfers the
    requisite amount to the account of the beneficiary. Beneficiaries

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