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Real time gross settlement systems (RTGS) they are fund transfer systems where money transfer takes place.
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RTGS stand for Real Time Gross Settlement.These are specialist funds transfer systems where transfer of money or securities takes place from 1 bank to another on a 'real time' & on'gross' basis.'Settlement' in 'real time' means payment transaction isn't subjected to any waiting period.Transactions are settled as soon as they're processed.'Gross settlement' means the transaction is settled on 1-to-1 basis without bundling or netting with any other transaction.Once processed,payments are final & irrevocable.
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