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Meaning Of Real Time Gross Settlement - What you should know ?

Gone are the days when bank customers have to wait for "clearing" of the check's, drafts and other instruments sent for clearing. In case of emergency, funds could be transferred much easier now. With the introduction of RTGS, consequent on wide use of technology, in the banking sector, Reserve Bank of India (RBI) introduced what is known as Real Time Gross Settlement (RTGS). RTGS is the fastest possible way of transferring money through normal banking system.
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