What is the meaning of RTGS in the banking industry?

RTGS stands for Real Time Gross Settlement. It is a system used for transferring money from one bank to another in real-time. This means that the transactions are processed immediately and the funds are transferred instantly, without any delay. RTGS is typically used for high-value transactions that require immediate settlement, such as large business payments or interbank transfers. It is considered a secure and efficient way of transferring funds between banks.

Real-Time Gross Settlement

Thank you very much