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Questions
Write a short note on ‘RTGS’.
Explain: RTGS
What is RTGS?
What is meant by RTGS?
Explain
Long Answer
Short Answer
Short/Brief Note
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Solution
- Real-time Gross Settlement (RTGS) is an electronic mechanism for interbank transfers of money worth 2 lakhs or more.
- It is a real-time gross fund transfer system between banks. Settlement in ‘Real Time’ means no waiting period.
- The transaction is finalised once it has been processed.
- ‘Gross’ settlement refers to one-on-one transactions that are not paired with others.
- It is a quicker settlement system designed primarily for high-volume payments.
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Notes
Students should refer to the answer according to their questions.
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