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Real Time Gross Settlement Facility
The acronym ‘RTGS’ stands for Real Time Gross Settlement, which can be defined as the continuous (real-time) settlement of funds transfers individually on an order by order basis (without netting).’Real Time’ means the processing of instructions at the
time they are received rather than at some later time.’Gross Settlement’ means the settlement of funds transfer instructions occurs individually (on an instruction by instruction basis). Considering that the funds settlement takes place in the books of the Reserve Bank of India, the payments are final and irrevocable.
RTGS Charges
| Range | Time | Charge [Incl. GST] |
| Rs 2,00,000/- to Rs 5,00,000/- | Morning 10:00 To 4:45 | Rs 29.50 |
| Rs 5,00,001/- and above | Morning 10:00 To 4:45 | Rs 59.00 |
NEFT Charges
| Range | Time | Charge [Incl. GST] |
| Upto Rs 10,000/- | Morning 10:00 To 4:45 | Rs 2.95 |
| Upto Rs 1,00,000/- | Morning 10:00 To 4:45 | Rs 5.90 |
| Upto Rs 2,00,000/- | Morning 10:00 To 4:45 | Rs 17.70 |
| Above Rs 2,00,000/- | Morning 10:00 To 4:45 | Rs 29.50 |
In the competitive environment, various types of services are being provided by Bank. To provide speedy financial transaction through new technology, we have started to provide “RTGS” facility to customers in association with The Gujarat State Co-op Bank Ltd.
The Remitter has to provide the following details:
- Amount to be remitted
- Account no. to be credited
- Name of the beneficiary bank
- Name of the beneficiary customer
- Sender to receiver information, if any
- IFSC code of the receiving branch.
- Mobile number of the remitter.
