RTGS (Real Time Gross Settlement)

Real Time Gross Settlement is a funds transfer mechanism where transfer of money takes place from one bank to another on ‘real time’ and on ‘gross basis’. This is the fastest possible mode of money transfer through bank channel ‘available in India. Presently, there are over 45000 bank branch enabled for remitting and receiving funds through RTGS. RTGS is primarily for large value remittances. The minimum amount to be remitted through RTGS is Rs.1.00 Lakh.

The customer intending to remit money through RTGS has to submit an application with particulars of IFSC ( Indian Financial System Code) of the beneficiary Bank/Branch, full account number and name of the beneficiary.

Sreenidhi Bank offers RTGS facility to its customers through its branches.

RTGS remittance service for customer transactions is available from 9.00 hours to 15.30 hours on weekdays and from 9.00 hours to 11.00 hours on Saturdays. Under this facility money will be credited to the beneficiary account instantly on ‘real time’ basis