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 Jul 7, 2025
-> SSC MTS Notification 2025 has been released by the Staff Selection Commission (SSC) on the official website on 26th June, 2025.
-> For SSC MTS Vacancy 2025, a total of 1075 Vacancies have been announced for the post of Havaldar in CBIC and CBN.
-> As per the SSC MTS Notification 2025, the last date to apply online is 24th 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.