BE/RBINOTE/72/2020
- Real Time Gross Settlement System (RTGS) is a type of money transfer from one bank to any other bank which is processed at the time it is received.
- There are no additional charges levied for RTGS transactions.
- RTGS is now available 24×7 from Monday to Sunday.
- RTGS facility can be availed either online through mobile or internet banking or offline through the bank branch.
- The minimum amount that can be remitted through RTGS is Rs 2 lakh with no upper limit.(Content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.)
Note:
The RBI has made RTGS, used for high-value transactions between banks, a ’round the clock’ service, available on ‘all days of the year’, starting December 14, 2020. Here is how RTGS works.
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