Question
Download Solution PDFWhat is the minimum amount which can be remitted through Real Time Gross Settlement (RTGS)?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe 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.
Last updated on May 28, 2025
-> SSC MTS 2025 Notification will be released by the Staff Selection Commission (SSC) on the official website on 26th June, 2025.
-> The online application process will also begin once the official notification is out. The last date to apply online will be 25th July 2025 as per the SSC Exam Calendar 2025-26.
-> The selection of the candidates for the post of SSC MTS is based on Computer Based Examination.
-> Candidates with basic eligibility criteria of the 10th class were eligible to appear for the examination.
-> Candidates must attempt the SSC MTS Mock tests and SSC MTS Previous year papers for preparation.