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What is the full form of RTGS?

RTGS Full Form

RTGS full form

The full form of RTGS is Real-Time Gross Settlement. Real-time gross settlement (RTGS) systems are funds transfer systems where the transfer of money takes place from one bank to any other bank on a “real time” and on a “gross” basis. Settlement in “real time” means a payment transaction is not subjected to any waiting period, with transactions being settled as soon as they are processed. “Gross settlement” means the transaction is settled on one-to-one basis without bundling with any other transaction. “Settlement” means that once processed, payments are final and irrevocable.

Differences between NEFT, IMPS, and RTGS

CategoryNEFTRTGSIMPS
Minimum transfer valueRs.1Rs.2 lakhRs.1
Maximum transfer valueDepends on the customer segmentNo upper limitRs.2 lakh
Type of settlementBatchesOne-on-one settlementOne-on-one settlement
Speed of settlement2 hours (subject to cut-off timings and batches)ImmediatelyImmediately
Service availability24/7Depends on the bank24/7
Online/OfflineBothBothOnline

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