Question

What is the minimum amount that can be remitted through real-time gross settlement (RTGS)?
1. Rs. 5,00,000
2. Rs. 2,00,000
3. Rs. 3,00,000
4. Rs.1,00,000

Answer 1

Correct Answer - Option 2 : Rs. 2,00,000

The correct answer is Rs. 2,00,000

• The RTGS system is primarily meant for large value transactions.
• The minimum amount to be remitted through RTGS is ₹ 2,00,000/- with no upper or maximum ceiling.

• Real-time gross settlement (RTGS): It refers to a funds transfer system that allows for the instantaneous transfer of money and/or securities.
• RTGS is the continuous process of settling payments on an individual order basis without netting debits with credits across the books of a central bank.
• Real-time gross settlement payments are final and irrevocable.
• In most countries, the systems are managed and run by their central banks.