In banking, the full form of RTGS is

This question was previously asked in
BPSC AE Paper 3 (General Studies) 2019 Official Paper
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  1. Rapid Transfer Gross Scheme
  2. Rapid Transfer Gross Settlement
  3. Real Time Gross Settlement
  4. Real Time Gross Scheme

Answer (Detailed Solution Below)

Option 3 : Real Time Gross Settlement
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Detailed Solution

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The correct answer is Real Time Gross Settlement.

 

  • RTGS is a Real-Time Gross Settlement.

Important Points

  • It is a financial transaction system having a continuous and real-time settlement of fund transfers.
  • The transaction is processed immediately on a transaction by transaction basis throughout the RTGS business hours.
  • The minimum limit is 2 lakh rupees with no maximum limit.
  • The RTGS service is available both in online and offline modes.
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