Whats is RTGS money transfer?

RTGS is the abbreviation of Real Time Gross Settlement - This is a real time fund transfer processing system in India where the processing of funds transfer requests takes place at the time they are received .

Currently there are two systems of Inter Bank Transfer – RTGS (Real Time Gross Settlement) and NEFT (National Electronic Fund Transfer).
In RTGS, the settlement of funds transfer requests occurs individually on an instruction by instruction basis (gross settlement). Normally the beneficiary Bank branch receives the funds in real time as soon as funds are transferred by the remitting Bank. If the beneficiary’s bank is unable to credit the beneficiary’s account for any reason, the former will return the money to the remitting bank within 2 hours. RTGS is one of the fastest interbank money transfer facility available through secure banking transaction channels in India and is maintained by Reserve Bank of India ( RBI ).

Not all banks has this facility. To know the bank branches which has RTGS facility, please visit RBI list of RTGS enabled banks.

Current RTGS money Transfer limit
Minimum amount required for RTGS transfer should be greater than or equal to Rs.2 Lakhs and maximum upto Rs.10 Lakhs.

RTGS operating hours:
Monday to Working Saturday 8:00 hrs to 16:00 hrs (8:00AM - 4:00PM IST )

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