What is Real Time Gross Settlement (RTGS) ?

Defination:

It is a continuous (real-time) settlement of funds transfers individually on an order by order basis. While the funds under NEFT are transferred in batches, funds under RTGS are settled 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).

The minimum amount to be remitted through RTGS is Rs. 2 lakh. There is no upper ceiling for RTGS transactions.