Real Time Gross Settlement (RTGS) system is a nation-wide system that facilitates individuals, firms and corporate to transfer funds electronically from any bank branch to any individual, firm or corporate having an account with any other bank branch across the country. Amount 2 lakhs and above can be transferred by using RTGS. There is no upper ceiling for RTGS transactions. This is a simple, secure, safe, fastest and cost effective way to transfer funds. RTGS service is facilitated by Reserve Bank of India.
Customers can remit amount 2 lakhs and above using RTGS. Customer intending to remit money through RTGS has to furnish the following particulars in the prescribed form.
Customers can use this facility at business hours between 10 AM and 4.30 PM on all weekdays. The money will be credited to the beneficiary’s account immediately.
