InvestorQ : What are the charges levied on RTGS transactions?
Manisha Mehta made post

What are the charges levied on RTGS transactions?

Answer
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1 year ago


RTGS or real-time gross settlement is a fund-transfer mechanism that allows for real time processing and settlement of requests for fund transfers.

The system ensures that the receiver has access to the funds almost instantly, hence, real time, rather than after certain duration as is the case with some other payment modes.

The settlement of requests takes place on instructions basis and not on batch clearing basis. The Reserve Bank of India keeps a track of all the transfers and thus all the successful transfers are irreversible.

The RBI recently announced extension in the time window for RTGS. Previously the timing for any RTGS transaction was till 4:30 pm. Now it has been extended to 6 pm. The final cut-off for inter-bank transactions will be 7:45 pm.

- Amount above Rs 2 lakh up to Rs 5 lakh - Rs 25 + Applicable GST

- Amount above Rs 5 lakh up to Rs 10 lakh - Rs 50 + Applicable GST