RTGS

Real Time Gross Settlement (RTGS) system is a funds transfer mechanism where transfer of money takes place from one member bank to another on a “real time” and on “gross” basis. This is the fastest possible money transfer system through the banking channel. Our Bank provides RTGS facility through our bankers viz HDFC Bank, IDBI Bank, etc.

Ceiling in amount for RTGS transaction

• The RTGS system is primarily for large value transaction.
• The minimum amount to be remitted through RTGS is Rs. 2 Lacs.
• There is no upper ceiling for RTGS transaction

Transaction hours
The RTGS service for customer’s transactions is available from 10:00 AM to 04:00 PM  for all working day...

Time limit for credit
The beneficiary bank credits the beneficiary’s account within two hours of receiving the funds transfer message.

The essential information required for RTGS remittance
The remitting customer has to furnish the following information to a bank effecting a RTGS remittance:

• Amount to be remitted.

• His/her account number which is to be debited.

• Name of the beneficiary bank.

• Name of the beneficiary customer.

• Account number of the beneficiary customer.

• Sender to receiver information, if any.

• The IFSC code of the receiving branch.

For further guidance, please contact Head Office. (Accounts Department)