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What is the minimum amount which can be remitted through Real Time Gross Settlement (RTGS)?
The correct answer is ?2,00,000. Rs. 2,00,000 is the minimum amount that can be remitted through Real Time Gross Settlement (RTGS). The acronym "RTGS" stands for Real-Time Gross Settlement, which can be described as a mechanism where fund transfers are settled continuously and in real-time, individually on a transaction basis (without netting). "Real-Time" means the delivery of instructions at the time of receipt; "Gross Settlement" means the settlement of instructions for the transfer of funds happens separately. The RTGS system is intended specifically for large-value transactions.
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