“,” he explained. “It’s a system where funds are transferred from one bank to another instantly and one-on-one . No waiting. No netting. The moment we send it, the receiving bank gets the ‘gross’ amount in real time.”
“Maya, the property deed transfer is cleared. You need to pay the ₹25 lakh registration fee by , or the deal falls through and you lose the deposit.” rtgs union bank
Maya hesitated. “But my lawyer uses ICICI Bank. Will that work?” “,” he explained
She rushed to her local Union Bank branch. The manager, Mr. Sharma, saw her distress. No netting
Mr. Sharma smiled. “RTGS is not limited to Union Bank. It connects in India through the RBI. As long as the amount is above ₹2 lakh, RTGS is perfect. And it’s free online or low-fee at branches.”
Maya’s phone buzzed at 7:45 AM. It was her lawyer.