The upper or maximum ceiling of RTGS transaction in India is _______.

The correct answer is It has no upper limit.

Key Points

• The Real-Time Gross Settlement (RTGS) system in India does not have an upper transaction limit.
• RTGS is primarily meant for large value transactions which are settled individually in real time.
• It is managed by the Reserve Bank of India (RBI), ensuring secure and efficient fund transfers.
• The minimum amount for RTGS transactions is Rs. 2 lakhs, but there is no maximum ceiling.

Additional Information

• What is RTGS?
  • RTGS stands for Real-Time Gross Settlement, a system where the transfer of funds takes place from one bank to another on a "real-time" and on a "gross" basis.
  • "Real-time" means the processing of instructions at the time they are received, and "gross settlement" means the transaction is settled on a one-to-one basis without netting with any other transaction.
• Operational Hours
  • RTGS services are available on all working days of the week from 7:00 AM to 6:00 PM.
  • Transactions made after the cutoff time will be processed on the next working day.
• Benefits of RTGS
  • RTGS transactions are highly secure as they are managed by the RBI.
  • It is an ideal method for high-value transactions as there is no upper limit.
  • Immediate settlement reduces the risk of default in settlement.
• Charges for RTGS
  • There are nominal charges associated with RTGS transactions, which vary from bank to bank.
  • However, the RBI has waived off the charges for RTGS transactions initiated online via internet banking and mobile banking.