What is the minimum amount which can be remitted through Real Time Gross Settlement (RTGS)?

Question

Question

This question was previously asked in

SSC MTS 2020 (Held On : 8 Oct 2021 Shift 3 ) Official Paper 12

Answer 1

The correct answer is ₹2,00,000.

Key Points

Rs. 2,00,000 is the minimum amount that can be remitted through Real Time Gross Settlement (RTGS).
The acronym "RTGS" stands for Real-Time Gross Settlement, which can be described as a mechanism where fund transfers are settled continuously and in real-time, individually on a transaction basis (without netting).
"Real-Time" means the delivery of instructions at the time of receipt; "Gross Settlement" means the settlement of instructions for the transfer of funds happens separately.
The RTGS system is intended specifically for large-value transactions.