RTGS means Real Time Gross Settlement (RTGS) System in which banks can route payments through on-line messages to RBI’s RTGS Payment Gateway.

As electronic messages move instantaneously the transactions can be concluded at the earliest unlike in the case of cheque clearing.

RTGS is an electronic payment system of Reserve Bank of India which provides online settlement between participating Banks continuously throughout the day. Using RTGS Customers of the Bank can make payment to the beneficiary’s account in another Bank.

In this regard, payer has to inform the bank to debit his account and credit the payee’s account with an equivalent amount (form in this regard is given below)

At present our bank is providing the services of RTGS/NEFT to our customers through Nationalised Bank and Private Sector Banks