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Questions
Write a short note on 'RTGS'.
Explain: RTGS
What is RTGS?
Answer in Brief
Short Note
Solution
- Real-time Gross Settlement (RTGS) is an electronic mechanism for interbank transfers of money worth 2 lakhs or more.
- It is a real-time and gross fund transfer system between banks. Settlement in 'Real Time' means no waiting period.
- The transaction is finalised as soon as it has been processed.
- 'Gross' settlement refers to one-on-one transactions that are not paired with others.
- It is a more quick settlement system designed primarily for high-volume payments.
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Notes
Students should refer to the answer according to their questions.
Modes of Transfering Money Online
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RELATED QUESTIONS
Write a Short note on IMPS.
Write a short note on NEFT.
It is a funds transfer system under which transfer of funds takes place from one bank to another on a real time and gross basis.
Real Time means there is ______.
IMPS stand for ______.
It is a type of electronic card which is used for transactions made online through a computer or a smartphone.
What is IMPS?
What is 'National Electronic Fund Transfer'?
Compare and contrast the features of RTGS and NEFT.
What are Mobile wallets?
