RTGS articles

FAQ on Real Time Gross Settlement (RTGS) System

The acronym RTGS stands for Real Time Gross Settlement. RTGS system is a funds transfer mechanism where transfer of money takes place from one bank to another on a real time and on gross basis. This is the fastest possible money transfer system through the banking channel. Settlement in real time means payment transaction is not subjected...

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Posted Under: Finance |

Check IFSC Code Indian Directory

IFSC – Indian Financial System Code is an 11 digit alphanumeric code. IFSC code is used to detect the bank branch for any particular bank account. Let us learn about the denotation of each digit in an IFSC code finder. The first four digits in an IFSC code define the name of your bank. The […]...

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Posted Under: Finance |

RBI to phase out high value clearing for Cheques drawn over 1 Lakh Rupees

High value clearing, the facility that enables depositors to encash cheques drawn for over Rs 1 lakh the next day, is set to be phased out. The Reserve Bank of India (RBI) has increased the minimum value for high value clearing to Rs 5 lakh from May. This will be increased further to Rs 10 […]...

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