RTGS Full Form is Real Time Gross Settlement
What Does RTGS Stand For?
RTGS is an abbreviation represents Real Time Gross Settlement. As the name characterizes, it is a nonstop (ongoing) settlement of assets moves exclusively on a request by request premise. RTGS is utilized to move cash or protections starting with one bank then onto the next on a constant and on net premise.
RTGS frameworks are commonly utilized for high-esteem cash exchanges that require prompt clearing. It is normally worked by national banks of the nations. The electronic installment framework did not depend on physical trade of cash. It lessens the sum from A’s ledger and includes this sum in account B.
RTGS and NEFT both are utilized for electronic reserve move. Both are utilized for same reason yet there are some particular contrasts between them.