RTGS (Real Time Gross Settlement) is a funds transfer mechanism where transfer of money takes place from one bank to another on ‘real time’ and on ‘gross basis’. This is the fastest possible mode of money transfer through bank channel ‘available in India. Presently, there are over 45000 bank branch enabled for remitting and receiving funds through RTGS. RTGS is primarily for large value remittances. The minimum amount to be remitted through RTGS is Rs. 2 Lakh.
The customer intending to remit money through RTGS has to submit an application with particulars of IFSC ( Indian Financial System Code) of the beneficiary Bank/Branch, full account number and name of the beneficiary.
RTGS remittance service for customer transactions is available from 9.30 hours to 16.00 hours. Under this facility money will be credited to the beneficiary account instantly on ‘real time’ basis.
What are the transaction or service charges for RTGS transactions?
Amount |
Fees / Charges |
RTGS Rs. 2 lakhs to 5 lakhs
|
Rs. 24.00 |
RTGS Rs. 5 lakhs and above |
Rs. 47.00 |
Pl Note : GST 18% Applicable |
What are the RTGS Transaction timings ?
Transaction Particulars |
RTGS Timings |
Monday to Saturday (Except 2nd and 4th Saturday) |
9:30 AM to 4:00 PM |
What is the IFSC Code to Recieve Funds in your CSB Account?
1. IFSC Code : YESB0CSB001 ( Pls Note 5th, 9th & 10th letter are ZERO)
2. Name of the account Holder.
3. 12 Digit account Number. |
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