Real Time Gross Settlement

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Real Time Gross Settlement

An online system allowing the instantaneous transfer of funds and securities between banks. Real time gross settlement exists to settle large transactions between banks so that they can continue to extend credit to each other and to customers. Examples include the fed wire in the United States and CHAPS in the United Kingdom.
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References in periodicals archive ?
The Review pointed out that the recorded volume and value of large-value payments through Real Time Gross Settlements (RTGS) were 110,255 and Rs.38.49trillion respectively in the first quarter of FY13.
He said that introduction of electronic payment products by the Reserve Bank of India (RBI) such as Electronic Clearing Service (ECS), National Electronic Fund Transfer (NEFT) and Real Time Gross Settlements (RTGS) have ushered in new ways of payment processing and settlement.

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