rtgs-mode of payment
This query is : Resolved
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"
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
