RTGS stands for Real-Time Gross Settlement, which is an electronic form of funds transfer where the transmission takes place on a real-time basis. It is a system for electronic payments between two banks, where the transactions process and settle in real-time rather than being batched. RTGS is generally used for large-value interbank funds transfers operated and organized by a countrys central bank. It is designed for large-value payments, making it suitable for high-priority transactions such as interbank transfers, corporate payments, and government transactions. The system is available on all days on a 24x7x365 basis. RTGS transactions have no amount cap set by RBI. The minimum amount to be transferred through RTGS is Rs 2 lakh. The beneficiary account receives the funds transferred on a real-time basis. The customer initiating the funds transfer through RTGS has to have the Indian Financial System Code (IFSC) of the beneficiarys bank, along with the name of the beneficiary, account number, and name of the bank. The bank branches, both at the initiating and receiving end, have to be RTGS-enabled for the transaction to be processed.