RTGS
This query is : Resolved
RAJESH CHOUDHARY
(Querist)
24 April 2009
WHAT IS THE FULL FORM OF RTGS
CA Suresh Choudhary
(Expert)
24 April 2009
RTGS stands for Real Time Gross Settlement, the most fastest mode of fund transfer from one bank account to other bank account.
CA.Tarun Maheshwari
(Expert)
24 April 2009
Agree with the expert.
26 April 2009
AGREE WITH EXPERT
Taranjit Singh
(Expert)
26 April 2009
The RTGS system is primarily for large value transactions.
The minimum amount to be remitted through RTGS is Rs.1 lakh.
There is no upper ceiling for RTGS transactions
The minimum amount to be remitted through RTGS is Rs.1 lakh.
There is no upper ceiling for RTGS transactions
Taranjit Singh
(Expert)
26 April 2009
The remitting customer has to furnish the following information to a bank for effecting a RTGS remittance:
1. Amount to be remitted
2. His/Her account number which is to be debited
3. Name of the beneficiary bank
4. Name of the beneficiary customer
5. Account number of the beneficiary customer
6. Sender to receiver information, if any
7. The IFSC code of the receiving branch
1. Amount to be remitted
2. His/Her account number which is to be debited
3. Name of the beneficiary bank
4. Name of the beneficiary customer
5. Account number of the beneficiary customer
6. Sender to receiver information, if any
7. The IFSC code of the receiving branch
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