new Delhi. Most people use RTGS to transfer payments. Under this, transfer money can be made up to 2 lakh rupees. Till now this facility was available only in working time in banks, but now RBI has made changes in its rules. Under this, now the customer will get this service for 24 hours. They can transact rupees at any time through RTCS. The new system will be implemented from December 2020. This information was given by Reserve Bank of India (RBI) Governor Shaktikant Das.
What is RTGS?
RTGS is an easy process to transfer funds. Transactions happen fast in this. Its full name is Real Time Gross Settlement. Through this system, you can easily transfer money from one bank account to another. People are often confused with RTGS and NEFT. Because like RTGS, this too is another option to transfer money. But in RTGS, money is transferred instantly. However, there is a limit for sending money, in which transfer of at least two lakh rupees will be necessary.
1.RTGS is a secure system for fund transfer. It does not require any amount cap.
2.RTGS is for large value transactions. Its minimum amount is Rs 2,00,000 while there is no maximum limit.
3. RTGS Transfer These payments can be scheduled as per your convenience. You can schedule a payment for three days later.
4. In RTGS system money is transferred instantly from one bank account to another bank account.