|Definition|| : ||Real Time Gross Settlement
|Category|| : ||Business Banking
|Country/Region|| : ||India
|Popularity|| : ||
What does RTGS mean?
Real Time Gross Settlement (RTGS) is an electronic real time fund transfer system which allows to transfer money from one bank to another bank in India. RTGS is operated and maintained by Reserve Bank of India (RBI) to enable funds settlement on real-time basis across banks in the country. RTGS system is primarily meant for large value transactions and require immediate clearing.