Question

Give any two features of RTGS.

Give any three features of RTGS.

Answer 1

The main features of RTGS are as follows:

1. RTGS is not available at all bank branches across India; only those branches with a Core Banking Solution (CBS) offer this facility.
2. Transactions under RTGS are processed on a real-time and individual basis during banking hours, not in batches.
3. The minimum amount for an RTGS transaction is ₹ 2 lakh, with no maximum limit.
4. The beneficiary bank is required to credit the recipient’s account within 30 minutes of receiving the funds transfer instruction.
5. RTGS transfers are final and cannot be reversed once processed.