What is meant by R.T.GS ? Give any two features of R.T.GS.

1.	What is meant by R.T.GS ? Give any two features of R.T.GS.
Answer» Real Time Gross Settlement (RTGS) is an electronic form of funds transfer where the transmission takes place on a real time basis. In India, transfer of funds with RTGS is done for high value transactions, the minimum amount being Rs 2 lakh. The beneficiary account receives the funds transferred, on a real time basis. Features of R.T.G S. • An RTGS electronic fund transfer facilitates fund transfer on real time basis. In case of a holiday, the amount gets credited on the next working das. • RTGS could also be done offline by submission of the remittance form at the bank branch of the remitter. • RTGS avoids the cost involved in other instruments of fund transfer such as demand draft.

Answer»

Real Time Gross Settlement (RTGS) is an electronic form of funds transfer where the transmission takes place on a real time basis. In India, transfer of funds with RTGS is done for high value transactions, the minimum amount being Rs 2 lakh. The beneficiary account receives the funds transferred, on a real time basis.

Features of R.T.G S.

• An RTGS electronic fund transfer facilitates fund transfer on real time basis. In case of a holiday, the amount gets credited on the next working das.

• RTGS could also be done offline by submission of the remittance form at the bank branch of the remitter.

• RTGS avoids the cost involved in other instruments of fund transfer such as demand draft.

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