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.

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.

Range Time Charge Rs 2,00,000/- to Rs 5,00,000/-8:00 AM to 11:00 AMRs 30.00
Rs 2,00,000/- to Rs 5,00,000/-11:00 AM to 1:00 PMRs 32.00
Rs 2,00,000/- to Rs 5,00,000/-1:00 PM to 4:00 PMRs 35.00
Rs 5,00,001/- and above8:00 PM to 11:00 AMRs 59.00
Rs 5,00,001/- and above11:00 AM to 1:00 PMRs 61.00
Rs 5,00,001/- and above1:00 PM to 4:00 PMRs 65.00
SettlementReal time (Faster)
Full FormReal Time Gross Settlement
Timings on Mon – Fri8:00 am – 4:30 pm
Timings on Saturday8:00 am – 4:300 pm
Minimum amount of money transfer limit2 lacs
Maximum amount of money transfer limitNo Limit
When does the Credit Happen in beneficiary accountReal time between Banks
Suitable forLarge Money Transfer

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.