This document provides an overview of Real Time Gross Settlement (RTGS) systems in India. It explains that RTGS allows for continuous real-time settlement of funds transfers individually on an order by order basis without any waiting period. The key information needed for an RTGS transfer includes the remitter's account number, beneficiary name and account details. Transactions can be done through internet or mobile banking and timings are from 9am to 6pm on working days, excluding bank holidays. Transaction limits and processing fees vary by bank but a minimum of Rs. 200,000 applies.

1. by
AYUSH VERMA
SLIDESHARE.NET

2. CONTENTS
 E-Transfer Systems in INDIA
 RTGS
 Why RTGS ?
 Making RTGS Payments
 Information Needed for Effective Remittance
 Working of RTGS
 Procedure
 Timings
 Transaction Amount Limits
 Processing Charges
 Reference

3. E-Transfer Systems in INDIA
 NEFT
 National Electronic Funds Transfer
 RTGS
 Real Time Gross Settlement
 IMPS
 Immediate Payment Service

4. RTGS
 It is a continuous (real-time) settlement of funds transfers
individually on an order by order basis
 Real Time - processing of instructions at the time they are
received
 payment transaction is not subjected to any waiting period
 Gross Settlement - settlement of instructions occurs
individually
 transaction is settled on one to one basis without bunching or
netting with any other transaction
 payments are final and irrevocable

5. Why RTGS ?
 Reduces the cost of exchanging goods and services
 A RTGS electronic fund transfer facilitates fund transfer on real time
basis.
 In case of a holiday, the amount gets credited on the next working day.
 RTGS could also be done offline by submission of the remittance form
at the bank branch of the remitter.
 RTGS avoids the cost involved in other instruments of fund transfer
such as demand draft.

6. Making
RTGS
Payments

7. Information needed for Effective
Remittance
 Amount to be remitted
 Remitting customer’s account number which is to be
debited.
 Name of the beneficiary bank.
 Name of the beneficiary.
 Account number of the beneficiary.
 IFSC code of the destination bank branch

8. WORKING OF RTGS

9. PROCEDURE
 Activation
 Internet banking should be activated for conducting transactions through RTGS.
 Beneficiary
 The person to whom the payment is to be made needs to be added as a 'beneficiary' and
his bank account details provided in order to transfer the funds. These include the name
of the beneficiary account holder, account number, bank and branch name, and the IFSC
code of the beneficiary bank branch.
 Processing
 The bank requires 12-24 hours for authenticating the details of the beneficiary.
 Transfer
 Select the type of transfer option (NEFT or RTGS), beneficiary name, amount, and the
reason/description of transfer. On submission of the details and the security password,
the transfer instruction is processed. The RTGS transfer is carried out on a real-time
basis.

10. Timings
 No Service on Bank Holidays

11. Transaction Amount Limit
 Minimum : INR 200,000 (for INDIA)
 Maximum : No Limit
 maximum amount may vary with respect to banks
 For example, RTGS maximum Amount Limit in SBI
 Rs.5 million for small & medium firms
 Rs.5 billion for large & very large firms

12. Processing Charges
Timings Amount (Rs.) Charges (Rs.)
9 a.m. – 12 noon
200,000 – 500,000 25
Above 500,000 50
After 12 noon – 3:30 p.m.
200,000 – 500,000 26
Above 500,000 51
After 3:30 p.m.
200,000 – 500,000 30
Above 500,000 55

13. Reference
 Reserve Bank of India
 State Bank of India
 Industrial Credit and Investment Corporation of India
 http://en.wikipedia.org/
 Casansaar.com
 JagoInvestor.com

14. ;-)