{"id":35699,"date":"2015-06-26T10:50:43","date_gmt":"2015-06-26T10:50:43","guid":{"rendered":"http:\/\/vskills.in\/certification\/blog\/?p=35699"},"modified":"2024-04-03T13:18:34","modified_gmt":"2024-04-03T07:48:34","slug":"rtgs-system","status":"publish","type":"post","link":"https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/","title":{"rendered":"RTGS System"},"content":{"rendered":"<div style=\"color: #000000;font-family: sans-serif;font-size: 11.3736019134521px;line-height: normal;width: 328px\">\n<div dir=\"ltr\">\n<p class=\"MsoNormal\" style=\"text-align: center\"><a ref=\"magnificPopup\" href=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/06\/RTGS-System.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-35735\" src=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/06\/RTGS-System-300x214.jpg\" alt=\"RTGS System\" width=\"300\" height=\"214\" srcset=\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/06\/RTGS-System-300x214.jpg 300w, https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/06\/RTGS-System.jpg 827w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p class=\"MsoNormal\">The acronym\u00a0<b>RTGS stands for Real Time Gross Settlement<\/b>. It means a continuous settlement of accounts by making payments hand to hand, at the time of order, and not by holding the orders to form batches.<b>\u00a0Real Time\u00a0<\/b>means settling the instructions received at the time when they are received, and not at some other time.\u00a0<b>Gross Settlement\u00a0<\/b>means settling the transactions on a one on one basis, i.e. individually rather than holding them for some time period. As the transactions take place in the books of Reserve Bank of India (RBI), they are final and irrevocable.<\/p>\n<p class=\"MsoNormal\">People often use the terms RTGS and NEFT (National Electronic Funds Transfer) interchangeably, however these are two very different things. NEFT is an electronic fund transfer mechanism which operates on a\u00a0<b>Deferred Net Settlement\u00a0<\/b>basis. This means, that upon receiving orders, the payments\/ transactions are not conducted hand to hand, but they are held for some duration, till a particular point of time. When that cut off time arrives, all the accumulated transactions are processed in batches. Hence\u00a0<b>the main difference between RTGS and NEFT is that, in RTGS, transactions take place in real time, whereas in NEFT, the transactions are netted.<\/b><\/p>\n<p class=\"MsoNormal\">RTGS is meant primarily for the purpose of making transactions involving large amounts. The minimum amount required for an RTGS is RS. Two Lakhs, however there is no upper limit for the same. Under normal circumstances, the beneficiary\u2019s account receives the amount transacted in real time, however the maximum time limit for the same is half hour.<\/p>\n<p class=\"MsoNormal\">The RTGS facility is available for the account holders to use from 9 AM to 4:30 PM on weekdays, however on Saturdays, the time is from 9 AM to 2 PM on the RBI\u2019s end. This service is provided by RBI at nominal charges. Inward transactions are free of cost, however the outward transactions\u2019 charges are as follows: not more than Rs.30 for a payment involving Rs. 2 Lakhs to 5 Lakhs, and not more than Rs. 55 for a payment above Rs. 5 Lakhs.<\/p>\n<p class=\"MsoNormal\"><a href=\"http:\/\/www.vskills.in\/certification\/accounting-banking-and-finance\">Click here for government certification in Accounting, Banking &amp; Finance<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The acronym\u00a0RTGS stands for Real Time Gross Settlement. It means a continuous settlement of accounts by making payments hand to hand, at the time of order, and not by holding the orders to form batches.\u00a0Real Time\u00a0means settling the instructions received at the time when they are received, and not at some other time.\u00a0Gross Settlement\u00a0means settling&#8230;<\/p>\n","protected":false},"author":1252,"featured_media":35735,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[1519],"tags":[4749,1353,4740],"class_list":["post-35699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting-banking-and-finance","tag-neft","tag-rbi","tag-rtgs"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RTGS System - Vskills Blog<\/title>\n<meta name=\"description\" content=\"What is RTGS System ? Apply for a vskills certification in Accounting, Banking and Finance now. Hurry up!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RTGS System - Vskills Blog\" \/>\n<meta property=\"og:description\" content=\"What is RTGS System ? Apply for a vskills certification in Accounting, Banking and Finance now. Hurry up!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/\" \/>\n<meta property=\"og:site_name\" content=\"Vskills Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/vskills.in\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/rishika.aggarwal.148\" \/>\n<meta property=\"article:published_time\" content=\"2015-06-26T10:50:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-03T07:48:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/06\/RTGS-System.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"827\" \/>\n\t<meta property=\"og:image:height\" content=\"590\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Rishika Aggarwal\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rishika Aggarwal\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/\",\"url\":\"https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/\",\"name\":\"RTGS System - Vskills Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/06\/RTGS-System.jpg\",\"datePublished\":\"2015-06-26T10:50:43+00:00\",\"dateModified\":\"2024-04-03T07:48:34+00:00\",\"author\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/f99ec0e83685cc79a21596241a7e540e\"},\"description\":\"What is RTGS System ? Apply for a vskills certification in Accounting, Banking and Finance now. Hurry up!\",\"breadcrumb\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/#primaryimage\",\"url\":\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/06\/RTGS-System.jpg\",\"contentUrl\":\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/06\/RTGS-System.jpg\",\"width\":827,\"height\":590},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.vskills.in\/certification\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"RTGS System\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/#website\",\"url\":\"https:\/\/www.vskills.in\/certification\/blog\/\",\"name\":\"Vskills Blog\",\"description\":\"Vskills - A Initiative in Assessment to Enhance Employability\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.vskills.in\/certification\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/f99ec0e83685cc79a21596241a7e540e\",\"name\":\"Rishika Aggarwal\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ba0259e7aad908d5196dfaa2b3e2345e59c5153a4ad94ea1cc03646d8a80f470?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ba0259e7aad908d5196dfaa2b3e2345e59c5153a4ad94ea1cc03646d8a80f470?s=96&d=mm&r=g\",\"caption\":\"Rishika Aggarwal\"},\"sameAs\":[\"https:\/\/www.facebook.com\/rishika.aggarwal.148\",\"https:\/\/in.linkedin.com\/pub\/rishika-aggarwal\/80\/124\/584\"],\"url\":\"https:\/\/www.vskills.in\/certification\/blog\/author\/rishika-aggarwal\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"RTGS System - Vskills Blog","description":"What is RTGS System ? Apply for a vskills certification in Accounting, Banking and Finance now. Hurry up!","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/","og_locale":"en_US","og_type":"article","og_title":"RTGS System - Vskills Blog","og_description":"What is RTGS System ? Apply for a vskills certification in Accounting, Banking and Finance now. Hurry up!","og_url":"https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/","og_site_name":"Vskills Blog","article_publisher":"https:\/\/www.facebook.com\/vskills.in","article_author":"https:\/\/www.facebook.com\/rishika.aggarwal.148","article_published_time":"2015-06-26T10:50:43+00:00","article_modified_time":"2024-04-03T07:48:34+00:00","og_image":[{"width":827,"height":590,"url":"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/06\/RTGS-System.jpg","type":"image\/jpeg"}],"author":"Rishika Aggarwal","twitter_misc":{"Written by":"Rishika Aggarwal","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/","url":"https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/","name":"RTGS System - Vskills Blog","isPartOf":{"@id":"https:\/\/www.vskills.in\/certification\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/#primaryimage"},"image":{"@id":"https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/#primaryimage"},"thumbnailUrl":"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/06\/RTGS-System.jpg","datePublished":"2015-06-26T10:50:43+00:00","dateModified":"2024-04-03T07:48:34+00:00","author":{"@id":"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/f99ec0e83685cc79a21596241a7e540e"},"description":"What is RTGS System ? Apply for a vskills certification in Accounting, Banking and Finance now. Hurry up!","breadcrumb":{"@id":"https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/#primaryimage","url":"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/06\/RTGS-System.jpg","contentUrl":"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/06\/RTGS-System.jpg","width":827,"height":590},{"@type":"BreadcrumbList","@id":"https:\/\/www.vskills.in\/certification\/blog\/rtgs-system\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.vskills.in\/certification\/blog\/"},{"@type":"ListItem","position":2,"name":"RTGS System"}]},{"@type":"WebSite","@id":"https:\/\/www.vskills.in\/certification\/blog\/#website","url":"https:\/\/www.vskills.in\/certification\/blog\/","name":"Vskills Blog","description":"Vskills - A Initiative in Assessment to Enhance Employability","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.vskills.in\/certification\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/f99ec0e83685cc79a21596241a7e540e","name":"Rishika Aggarwal","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ba0259e7aad908d5196dfaa2b3e2345e59c5153a4ad94ea1cc03646d8a80f470?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ba0259e7aad908d5196dfaa2b3e2345e59c5153a4ad94ea1cc03646d8a80f470?s=96&d=mm&r=g","caption":"Rishika Aggarwal"},"sameAs":["https:\/\/www.facebook.com\/rishika.aggarwal.148","https:\/\/in.linkedin.com\/pub\/rishika-aggarwal\/80\/124\/584"],"url":"https:\/\/www.vskills.in\/certification\/blog\/author\/rishika-aggarwal\/"}]}},"_links":{"self":[{"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/posts\/35699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/users\/1252"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/comments?post=35699"}],"version-history":[{"count":4,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/posts\/35699\/revisions"}],"predecessor-version":[{"id":72661,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/posts\/35699\/revisions\/72661"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/media\/35735"}],"wp:attachment":[{"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/media?parent=35699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/categories?post=35699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/tags?post=35699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}