RTGS (Real-Time Gross Settlement)

RTGS, or Real-Time Gross Settlement, is a system used by banks and financial institutions to transfer money instantly and securely. When one bank sends funds to another using RTGS, the transaction is processed immediately and individually, without waiting for other transactions to clear. This ensures that the recipient receives the money quickly and the transfer is final and settlement is completed in real-time. RTGS is typically used for high-value transactions, providing efficiency, safety, and reducing the risk of default or settlement failure.