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RTGS

What is meant by RTGS?

Total Answers and Comments: 4

Last Update: September 24, 2009 Asked by: gkrama

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Submitted by: kan1971

Real time gross settlementÂ systems (RTGS) are a funds transfer mechanism where transfer of money takes place from one bank to another on a one to one bill settlement basis. The transactions are settled as soon as they are processed.Â

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prabhakaranacc

July 05, 2009 13:31:34

kan1971

Member Since: July 2009 Contribution: 1

RE: RTGS

Real time gross settlement systems (RTGS) are a funds transfer mechanism where transfer of money takes place from one bank to another on a one to one bill settlement basis. The transactions are settled as soon as they are processed.

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Overall Rating: +1

July 17, 2009 12:10:44

gsnsradha

Member Since: July 2009 Contribution: 1

RE: RTGS

RTGS means Fund Transfer to Vendor

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August 05, 2009 00:35:36

ravikumar.PR

Member Since: August 2009 Contribution: 1

RE: RTGS

RTGS in banking means fund transfer from one bank branch to another bank branch in real time with gross settlement. Real Time Gross Settlement is the full form for RTGS

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September 23, 2009 12:59:19

sanjivani.patil

Member Since: September 2009 Contribution: 1

RE: RTGS

Real time gross settlement systems (RTGS) .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.

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