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The acronym RTGS stands for Real Time Gross Settlement, which can be defined as the continuous (real-time) settlement of funds transfers individually on an order by order basis (without netting). Real Time means the processing of instructions at the time they are received rather than at some later time; Gross Settlement means the settlement of funds transfer instructions occurs individually (on an instruction by instruction basis). Considering that the funds settlement takes place in the books of the Reserve Bank of India, the payments are final and irrevocable.

At present, requests for electronic transfer of funds exceeding Rs. 2,00,000/-  from one bank account to another bank account in a different bank - local or outstation, are executed through RTGS system.

The RTGS service window for customers transactions is available to banks from 9.00 hours to 16.30 hours on week days and from 9.00 hours to 14:00 hours on Saturdays for settlement at the RBI end. However, the timings that the banks follow may vary depending on the customer timings of the bank branches.


For amounts required to be transferred from one account to another within India, NEFT (National Electronic Funds Transfer) is the most popular method to do so.

If you wish to receive NEFT or RTGS into your Kanyaka Bank account,  you need to provide your 12 digit bank account number, name of account and the IFS code ------------- to the person who is to send the NEFT or RTGS to you.  Once that person requests his bank to effect the NEFT,  you will receive it within a few hours. 

Presently, NEFT operates in hourly batches - there are twelve settlements from 8 am to 7 pm on week days (Monday through Friday) and six settlements from 8 am to 1 pm on Saturdays.