RTGS is an acronym that stands for Real Time Gross Settlement. RTGS is a funds transfer system where money is moved from one bank to another in ‘real-time’ and on gross basis.
When using the banking method, RTGS is the fastest possible way to transfer money. ‘Real-Time’ means that the payment transaction isn’t subject to any waiting period.
The RTGS system is primarily for large value transactions. The minimum amount to be remitted through RTGS is Rs.2 lakhs. There is no upper ceiling for RTGS transactions.