Glossary / Also known as

RTGS transfer

Another name for RTGS (Real Time Gross Settlement).

What does RTGS transfer mean?

RTGS transfer is another name for RTGS (Real Time Gross Settlement). RBI's system for instant, irrevocable, high-value transfers - mandatory for payments above Rs 2 lakh.

The two names mean the same thing. You will see "RTGS transfer" in some ledgers, reports and contracts and "Real Time Gross Settlement" in others. The full entry covers how it works, with examples.

Read the full definition of RTGS (Real Time Gross Settlement)

Topics

Payments and banking

From the glossary

Related terms.

Payments and banking RTGS (Real Time Gross Settlement) RBI's system for instant, irrevocable, high-value transfers - mandatory for payments above Rs 2 lakh. Also called RTGS transfer Payments and banking IMPS (Immediate Payment Service) India's 24x7 instant interbank transfer system - money in the beneficiary's account within seconds, any day, any time. Also called IMPS transfer Payments and banking UPI (Unified Payments Interface) India's real-time payment revolution - send money instantly using just a phone number or UPI ID, 24x7, for free. Also called UPI payment, BHIM UPI TDS TDS (Tax Deducted at Source) A system where the payer deducts income tax at prescribed rates before paying the payee, and deposits it with the government on the payee's behalf. Also called withholding tax, tax deduction at source, tax withheld at source GST basics GST (Goods and Services Tax) India's unified indirect tax that replaced multiple central and state levies, creating a single national market for goods and services. Also called Goods & Services Tax Payments and banking ACH Transfer Batch-processed electronic bank transfers powering payroll, EMIs, and recurring payments across India. Also called Automated Clearing House transfer, ACH payment, ACH

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