RTGS (Real-Time Gross Settlement)

RTGS (Real Time Gross Settlement) is an electronic payment system that facilitates the instant transfer of funds between banks in real-time. It is typically used for high-value transactions.

• Function: RTGS enables immediate settlement of large amounts, with funds being transferred individually and without delay.
• Working: Transactions are processed in real-time, and funds are settled instantly on a gross basis.
• Advantages: It ensures quick, secure, and irreversible payments.