What is RTGS funds transfer system?
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Real Time Gross Settlement System (RTGS) is a system to transfer money from one bank to any other bank usually for large amounts. RTGS transactions have no amount cap but the minimum amount through RTGS is Rs 2 lakh. Earlier, RTGS was available from 7.00 am to 6.00 pm on all working days of a week, except second and fourth Saturdays of every month. Now Reserve Bank of India (RBI) Governor Shaktikanta Das announced that in order to help domestic businesses make quick and easy payments, RTGS will
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