Function of RTGS

Q.  What does RTGS enable?
- Published on 20 Jul 15

a. Immediate transfer of money from customer of one bank to customer of another bank
b. Immediate transfer of money from customer of one bank to customer of another branch within the same bank
c. Immediate transfer of money from customer of one bank to customer of another country
d. Immediate transfer of money from customer of one bank to customer of RBI

ANSWER: Immediate transfer of money from customer of one bank to customer of another bank
 
Real Time Gross Settlement Systems are specialist fund transfer systems where transfer of money takes place on "real time" and on "gross basis"

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