Answer Posted / rakesh panchal
The acronym “RTGS” stands for Real Time Gross Settlement.
RTGS system is a
funds transfer mechanism where transfer of money takes
place from one bank to
another on a “real time” and on “gross” basis. This is the
fastest possible money
transfer system through the banking channel. Settlement
in “real time” means
payment transaction is not subjected to any waiting period.
The transactions are
settled as soon as they are processed. “Gross settlement”
means the transaction is
settled on one to one basis 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 and irrevocable.
Is This Answer Correct ? | 83 Yes | 8 No |
Post New Answer View All Answers
why you would like to work for the our(AIRLINE) Group ???
What is Accounting on Computers
what is meant by transposition error
please answer this question.the following balances were extracted from the books of modern traders on 31st dec,2010.capital(85000)fixed assets(45000)stock1-1-2010(15000)sundry debtors(20600)productive exp(3300)reserves fund(6600)discount received(800)cash in hand(6200)drawing(5000)accomulated dep.(9000)purchases(82000)bad debts(400)unproductive exp.(27400)sundry creditors(9000)sales(120000)cash at bank(25500).adjustments.stock on 31-12-2010(15000).outstanding wages (5000) write-off (600)of further bad debts. create provision for bad & doubtful debts at {5%) on debtors.unproductive expenses includes anitem of prepaid insurance (100).provide depreciation on original cost of fixed assets @ (10%).
send me accounting test ppaers
What is difference between cash flow and funds flow?
what is transposition-cum-demat?
what is circuit filter?
Short answer on____________Assessment Year
How to reconsile vendor accountswhat to add and subtract is there any standard form please get me answer
What Is Depreciation, and from which date do we charge Depreciation for an asset ?
Example for extra ordinary expenditure?
Explain significance of Nastro and Vastro in accounts?
How can I explain p2p process in SAP?
how to prepare the balance sheet of private ltd. company & what roll should be play by Income tax, compnay law & accounting standard in India & world.