rtgs-mode of payment
This query is : Resolved
sam trikha
(Querist)
24 January 2011
what is RTGS.?
PROCESS OF RTGS ?
EITHER IT IS PAYMENT THROUGH BANK ACCOUNT???
PROCESS OF RTGS ?
EITHER IT IS PAYMENT THROUGH BANK ACCOUNT???
24 January 2011
https://www.caclubindia.com/forum/rtgs-vs-neft-106655.asp
https://www.caclubindia.com/forum/rtgs-real-time-gross-settlement-75538.asp
https://www.caclubindia.com/share_files/increase-in-rtgs-limit-32693.asp
Please see above link. You will get indepth knowledge on RTGS. Also remember "Minimum amount for RTGS increased to 2 lakh with effect from 15 November"
https://www.caclubindia.com/forum/rtgs-real-time-gross-settlement-75538.asp
https://www.caclubindia.com/share_files/increase-in-rtgs-limit-32693.asp
Please see above link. You will get indepth knowledge on RTGS. Also remember "Minimum amount for RTGS increased to 2 lakh with effect from 15 November"
Hitender Gaur
(Expert)
27 January 2011
The acronym “RTGS” stands for Real Time Gross Settlement. RTGS system is a
funds transfer mechanism where transfer of money takes place from one bank to
another on a “real time” and on “gross” basis. This is the fastest possible money
transfer system through the banking channel. Settlement in “real time” means
payment transaction is not subjected to any waiting period. The transactions are
settled as soon as they are processed. “Gross settlement” means the transaction is
settled on one to one basis without bunching with any other transaction. Considering
that money transfer takes place in the books of the Reserve Bank of India, the
payment is taken as final and irrevocable
funds transfer mechanism where transfer of money takes place from one bank to
another on a “real time” and on “gross” basis. This is the fastest possible money
transfer system through the banking channel. Settlement in “real time” means
payment transaction is not subjected to any waiting period. The transactions are
settled as soon as they are processed. “Gross settlement” means the transaction is
settled on one to one basis without bunching with any other transaction. Considering
that money transfer takes place in the books of the Reserve Bank of India, the
payment is taken as final and irrevocable
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