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 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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What is the full form of RTGS ?
Full form of RTGS is Real Time Gross Settlement.
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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.