RTGS is now available 24x7: Here are its advantages
The RBI has made RTGS, used for high-value transactions between banks, a 'round the clock' service, available on 'all days of the year', starting December 14, 2020. Here is how RTGS works.
By ET CONTRIBUTORS | Updated:
Getty Images
1. Real Time Gross Settlement System (RTGS) is a kind of money transfer from one bank to any other bank which is processed at the time it is received.
2. There are no additional charges levied for RTGS transactions.
3. RTGS is now available 24x7 from Monday to Sunday.
4. RTGS facility can be availed either online through mobile or internet banking or offline through the bank branch.
5. The minimum amount that can be remitted through RTGS is Rs 2 lakh with no upper limit.
(Content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.)
2. There are no additional charges levied for RTGS transactions.
3. RTGS is now available 24x7 from Monday to Sunday.
4. RTGS facility can be availed either online through mobile or internet banking or offline through the bank branch.
5. The minimum amount that can be remitted through RTGS is Rs 2 lakh with no upper limit.
(Content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.)
(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.)
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
