What is RTGS ?

RTGS is the fastest possible money transfer system through the banking channel. Under this system transfer of money takes place from one bank branch to another bank branch on a real and on gross basis.
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What does gross settlement mean?

Gross settlement means that the transaction is settled on one to one basis without bunching with any other transaction.
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What is the full form of RTGS ?


Full form of RTGS is Real Time Gross Settlement.
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What are the pre-requisites for originating a NEFT transaction ?

Following are the pre-requisites for putting through a funds transfer transactions using NEFT :

1. Originating and destination bank branches should be part of NEFT network.

2. Beneficiary details such as beneficiary name, account number and account type.

3. Name and IFSC of the beneficiary bank-branch.

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What do you mean by real time ?

Real time mean payment transaction is not made or staggered subjecting the transaction for any waiting period.
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