Answer Posted / anupam kamalia
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 ? | 306 Yes | 16 No |
Post New Answer View All Answers
What is a trial balance in accounting?
Interest received 5,000 and still receivable Rs. 2,000 PLease give journal entry for this!
how to enter the tender refund amount in tally ?
Is it legal for an organization to keep two sets of accounting records; one for tax and one for book? Why or why not?
I purchased a machine and finance it by bank with the amount 1900000 and bank apply the finance charge 440000 for 3 years finance how to pass this entry still machine value is 2200000 is finance charge is interest (indirect exp.) pls help me.
what is windows dressing final accounts?,sales a/c belongs to which a/c type?
How to calculate ESI Please define what include in basic salary and what should be excluded from basic salary
What is vendor?
how to pass entry in tally Rs 50000 cheque paid to son by father
bank releted question interviw plz tel me
how can i settle the party ac with cr & dr
what is turn over? what is vat? what should ido to become a expert in acount? plese ans me
what is core accounting?
what is the limit of cash payment in a manufacturing firm and job work related work and how much we paid to the job worker cash payment in financial year Aslam
Do you know marginal cost?