what is RTGS? what is the maximum limit of amount
stipulation for RTGS transaction?
Answers were Sorted based on User's Feedback
Answer / kiran
RTGS Minimum amount is changed from 1L to 2L, so the
minimum amount cna be transfered is 2L.
|Is This Answer Correct ?||20 Yes||5 No|
Answer / gauravmba
it is a system of fund transfer machanism where transfer of
money takes place from one bank to another on a ral time and
on gross bases. this is the fastest possible money transfer
system through the banking channel.
settlement in real time means"Payment transaction is not
subjected to any process of waiting period . the
Transactions are setteled on soon as they are they are
processed "gross settlement" on one to one bases without
bunching with any other transaction considering that money
transfer takes place in the books of the reserve bank of
india, the payment is taken as final & irrevocable.
RTGS is primarily for the large value transsaction.The
minimum to be remitted through RTGS is One lack
|Is This Answer Correct ?||19 Yes||10 No|
Answer / h.r. sreepada bhagi
RTGS - Real Time Gross Settlement.
By mistake the word Transfer was typed instead of the word
settlement in my answer posted previously. Sorry for same.
|Is This Answer Correct ?||5 Yes||2 No|
Answer / rahul
new limit is only for minimum i e 200000 nd no limit fr
|Is This Answer Correct ?||5 Yes||4 No|
Answer / sukanya
RTGS- real time gross settlement
rtgs applicable for the amt of rs.200000 and above
max above 1000000
|Is This Answer Correct ?||0 Yes||0 No|
Answer / ravi kaushal
The acronym 'RTGS' stands for Real Time Gross Settlement,
which can be defined as the continuous (real-time)
settlement of funds transfers individually on an order by
order basis (without netting). 'Real Time' means the
processing of instructions at the time they are received
rather than at some later time.'Gross Settlement' means the
settlement of funds transfer instructions occurs
individually (on an instruction by instruction basis).
Considering that the funds settlement takes place in the
books of the Reserve Bank of India, the payments are final
|Is This Answer Correct ?||0 Yes||1 No|
Answer / h.r. sreepada bhagi
RTGS - 'Real Time Gorss Transfer' is the fund transfer
mechanism used in banks, where in the beneficiary's
(Transferee) a/c gets the money credited on the same day if
money is transferred with in the specified business hours.
The minimum amount at present is Rs. 1,00,000/-
|Is This Answer Correct ?||11 Yes||20 No|
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