The full form of RTGS is a very important part of the banking sector. This question is very important for all competitive exams. If you are preparing for the Banking exam you must know about full form for RTGS. Without the help of RTGS, we are unable to transfer a big amount from one bank to another bank account. Let’s talk about RTGS stand for in banking sector in details. In our country every Indian bank its own RTGS number.
RTGS Full Form – Real-Time Gross Settlement
Now you have learnt full form of RTGS for your coming exam or general information. When any person or in the exam this type questions come write these words – “RTGS ka full form – Real-Time Gross settlement.
What is RTGS?
RTGS is the banking code to transfer the amount from one bank to another bank on real-time. By this service, amount receiver gets the payment on real-time without any delay. With the help of RGTS, we can transfer security along with money from one account to another account.
RTGS service is used mostly for big amount transfer. Because by RTGS amount is credited at the same time. I think you have understood about the full name of RTGS. Real-Time gross settlement is rtgs long form. Every bank provides RTGS service to its customer for transferring the money instantly.
What is the meaning of Real-Time Gross settlement?
Real-time grass settlement provides the instant money transfer facility from one bank to another bank at the current time. Mostly businessman uses this service to take payment from their customer. There is another form of money transfer like NEFT, IMPS, BHIM, UPI, etc.
The maximum time of the amount of credit is 30 minutes after receiving the message. You can transfer the amount 10 Lakh in a day from RTGS service.
The time of fund transfer from one bank to another through RTGS is Monday to Friday (9 AM to 4:30 PM).
- Minimum amount transaction is – 2 Lacs
- Maximum amount transaction is – 10 Lacs
- Same time credit
- Best for big amount.
I think you have got the full form of RTGS. Lean this question for your forthcoming exam. Especially for banking exam.