what is RTGS ? state its features
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Real Time Gross Settlement (RTGS) is an electronic form of funds transferwhere the transmission takes place on a real time basis.
In India, transfer of funds with RTGS is done for high value transactions, the minimum amount being Rs 2 lakh. The beneficiary account receives the funds transferred, on a real time basis. The main difference between RTGS andNational Electronic Funds Transfer (NEFT) is that while transfer via NEFT takes place in batches (with settlements and transactions being netted off), in the case of RTGS, the transactions are executed individually and on gross basis.
In India, transfer of funds with RTGS is done for high value transactions, the minimum amount being Rs 2 lakh. The beneficiary account receives the funds transferred, on a real time basis. The main difference between RTGS andNational Electronic Funds Transfer (NEFT) is that while transfer via NEFT takes place in batches (with settlements and transactions being netted off), in the case of RTGS, the transactions are executed individually and on gross basis.
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RTGS (Real-time gross settlement) has gridlock risk but it save money.
Explanation:
- RTGS may be defined as the continuous process that settles the individual payments without any netting debits.
- RTGS settlement is mainly employed for the large value and the transfer of the inter fund banks.
- The main disadvantage of RTGS is that the gross system has the gridlock risk that do not have enough money.
- The main advantage is that RTGS save money that support the transaction payment.
#Learn more with brainly about RTGS:
RTGS :brainly.in/question/6291406.
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