RTGS full form : What is RTGS?

RTGS full form

What is RTGS?

RTGS full form is Real-Time Gross Settlement. 

        When we want to transfer a large amount of money for anything like a down payment or purchase or fund transfer RTGS can be a good choice.  This is basically a  funds transfer system in which the transfer of money takes place from one bank to any other bank on a “real-time” and on a “gross” basis. 

        In the RTGS system, your request to transfer or settle funds is carried out immediately, whereas in NEFT the same is happening in batches. 

        As the full form 'Real Time' indicates that the processing of instructions happens at the time they are received rather than at some later time. And the next part which is 'Gross Settlement' indicates that the settlement of fund transfer instructions occurs individually. About RTGS we can say that the payments made through RTGS are final and irrevocable.