RTGS

REAL TIME GROSS SETTLEMENT ( RTGS )

RTGS is a modern, robust, integrated payment and continuous (real time) settlement system developed by RBI, whereby the Banks and Financial Institutions (Member Banks/FIs) transfer funds (both for customers and inter-bank transactions) to one another on an immediate, final and irrevocable basis during the stipulated business hours as indicated below :

 

Timings for RTGS Transactions
Sl. No.
Event
Time
1
Open for Business
08:00 AM
2
Initial Cut-off For Customer Payments (R-41)
16:15 PM
3
Final Cut-off For Inter Bank Payments (R-42)
07.30 PM
 

 

For RTGS, the minimum amount (floor limit) is Rs.2 lakh for customer Transactions.
There is no maximum limit.

 

 

Revised Commission & Service Tax w.e.f. 1st August, 2017: Please check in Service Charges

 

How to do RTGS/NEFT through Internet Banking?