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Real Time Gross Settlement

May

14

2015

RTGS is an electronic payment environment where payment instructions are processed on a continuous or real time basis and settled on a gross or individual basis witout netting the debit against credits.The payment so effected are final and irrevocable settlement is done in the books of the central bank the ultimate liquidity depository of the country.The RTGS system allows transfer of funds across banks on a nearly instantaneous basi.Each participant bank will be required to open a dedicated settlement account for putting trough its RTGS

In: G.K Asked By: [60 Blue Star Level]
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