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Important Key Points About RTGS for Banking Exams


RTGS is a centralized payment system in which, interbank payment instructions are processed and settled, on gross basis in a real time environment. It uses INFINET and SFMS platforms. In India, RTGS was implemented on 26th March, 2004. RBI operationalised the new RTGS system on 19th October, 2013. It is regulated as per RTGS system Regulation Act, 2013.

It is operated by RBI and managed by a Standing Committee consisting of members from RBI, banks and other stakeholders.

  • Open to all banks or institutions.
  • Criteria for Membership: The entity has to comply with other specific requirement such as –
  • Membership of the Indian Financial Network (INFINET)/Domestic SWIFT network/ SFMS
  • Current account, settlement account and Subsidiary General Ledger account with RBI.

 Type of Membership:
  • RBI
  • Restricted participants such as primary dealers
  • Regular participants such as banks and
  • Clearing House (permitted to submit MNSB file to RTGS system).

RTGS Transaction Type:
  • Return Payment Transaction
  • Government Transaction
  • Own Account Transfer (OAT)
  • Customer Transaction
  • Delivery versus Transfer (DVT)
  • Inter-Institutional/ Inter-RBI Transaction;

Minimum/ Maximum amount Stipulated for RTGS Transactions:
RTGS system is primarily meant for large value transactions. The minimum amount to be remitted through RTGS is 2lakh. There is no upper ceiling for RTGS transactions.

RTGS Remittance:
  • The remitting customer has to furnish the following information to a bank for initiating a RTGS remittance –
  • Remitting customer’s account number which is to be debited
  • The IFSC Number of the receiving branch
  • Amount to be remitted
  • Name of the beneficiary bank and branch
  • Name of the beneficiary customer
  • Account number of the beneficiary customer
  • *Sender to receiver information (if any) 

Outward Transaction under RTGS:
  • Rs. 2lakh to Rs. 5lakh (not exceeding Rs. 30 per transaction)
  • Above Rs. 5lakh (not exceeding Rs. 55 per transaction)

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