RTGS Full Form, Meaning, Timings, Charges and Limit
Independent guide. We are not part of RBI, NPCI or any bank, and we never ask for your account details, PIN or OTP.
RTGS stands for Real Time Gross Settlement. It is RBI's system for large bank transfers: each payment is settled on its own, instantly, and is final. The minimum is ₹2 lakh with no upper limit. It works 24×7, and the receiver's bank must credit the money within 30 minutes.
- Full form
- Real Time Gross Settlement
- Run by
- Reserve Bank of India
- Started
- 26 Mar 2004
- Timings
- 24×7 since 14 Dec 2020
- Holidays
- None; short daily break at day-end
- Credit time
- Within 30 minutes
- Amount
- Minimum ₹2 lakh, no maximum
- Charges
- Inward free; online often free
How does RTGS work?
Your bank sends the payment to RBI, which moves the money between the two banks' accounts at once. The receiver's bank then credits the receiver.
How to send money by RTGS
- Give your branch the receiver's name, account number, IFSC (find it on our IFSC finder) and the amount.
- Branch RTGS usually costs a fee; see the charges below.
Timings, holidays, amount and charges
- Timings: 24 hours a day, 365 days a year, since 14 December 2020. RBI pauses it only for a short daily break between its end-of-day and start-of-day processing.
- Holidays: none. RTGS works on Sundays and all bank holidays. Online RTGS is available only if your bank offers it in net or mobile banking.
- Amount: minimum ₹2 lakh, no maximum. For smaller amounts, use NEFT, IMPS or UPI.
- Charges: receiving money by RTGS is always free. For sending, RBI caps what banks may charge: up to ₹25 for ₹2–5 lakh and up to ₹50 above ₹5 lakh, plus tax. Many banks charge nothing online.
Example: SBI's RTGS charges
| Amount | Online (net banking, YONO) | At a branch | RBI maximum |
|---|---|---|---|
| ₹2 lakh – ₹5 lakh | Free | ₹20 + GST | ₹25 + tax |
| Above ₹5 lakh | Free | ₹40 + GST | ₹50 + tax |
Source: SBI RTGS/NEFT FAQ and RBI RTGS FAQ. SBI waives these charges for some current and salary accounts. Other banks set their own charges within RBI's limit.
How long does RTGS take to credit money?
- Credit: the receiver's bank must credit the account within 30 minutes of receiving the payment.
- Confirmation: your bank must tell you once the money is credited.
- If it can't be credited (for example, a wrong account number): the money must be returned to your bank within 1 hour, or before the end of the RTGS day, whichever is earlier.
- If the bank is late: it must pay compensation at the repo rate plus 2% for the delay, credited to you automatically without a request.
How to read an RTGS entry and UTR on your statement
Every RTGS payment gets a 22-character UTR (Unique Transaction Reference). On your bank statement it usually appears inside a longer line, like this sample:
RTGS/IDFBR62026103000012345/STOCK HOLDING CORPORATION OF INDIA LTD ESTAMPING/HDFC0004989/Stamp
| Part | In the sample | Meaning |
|---|---|---|
| Type | RTGS | The payment system used |
| UTR | IDFBR62026103000012345 | The payment's unique 22-character reference |
| Receiver | STOCK HOLDING CORPORATION OF INDIA LTD ESTAMPING | Name of the account that received the money (here, an e-stamp duty payment) |
| Receiver's IFSC | HDFC0004989 | The receiver's bank branch |
| Remarks | Stamp | The note entered by the sender |
The UTR itself carries information. RBI's RTGS regulations set its layout as XXXXRCYYYYMMDDnnnnnnnn:
| Characters | In IDFBR62026103000012345 | Meaning |
|---|---|---|
| 1st–4th | IDFB | Sending bank's code: the first 4 letters of its IFSC (here, IDFC FIRST Bank) |
| 5th | R | R for RTGS |
| 6th | 6 | Channel the payment came from: 1 internet banking, 2 cash management, 3 treasury, 4 ATM, 5 mobile, 6 other, 9 RTGS |
| 7th–14th | 20261030 | Date of the payment: 30 Oct 2026 (year, month, day) |
| 15th–22nd | 00012345 | Sequence number |
Where to find your UTR: in your bank statement or passbook, in the transaction details in net banking or your bank app, or in the SMS or email alert. If you can't find it, your bank's customer care can look it up (source: Axis Bank).
Source: RBI RTGS System Regulations 2013, section 6.2 and Annex 2. Always quote the full UTR, date and amount to your bank. Look up any bank code or IFSC on our IFSC finder.
RTGS vs NEFT vs IMPS
| RTGS | NEFT | IMPS | |
|---|---|---|---|
| Run by | RBI | RBI | NPCI |
| Settlement | Each payment, in real time | Half-hourly batches | Each payment, instantly |
| Amount | ₹2 lakh and above | Any amount | Up to ₹5 lakh |
| Credit time | Within 30 minutes | Within 2 hours of the batch | Usually seconds |
| Best for | Large, urgent payments | Non-urgent payments of any size | Urgent payments up to ₹5 lakh |
Where is RTGS used?
Property
A buyer pays ₹4.5 lakh booking money to a builder's account.
Vehicles
A family pays ₹8 lakh to a car dealer before delivery.
Business payments
A company pays a supplier ₹12 lakh late at night so goods ship in the morning.
Large corporate transfers
Companies sending ₹50 crore or more must include the LEI of both sides.
If something goes wrong
| Problem | What to do |
|---|---|
| Not credited within 30 minutes | Contact your bank's grievance cell with the UTR. If it is not resolved, complain to the RBI Ombudsman on the RBI complaint portal. |
| Sent to the wrong account | RTGS payments are final and cannot be reversed by you. Contact your bank at once with the UTR. |
| Tricked by a fraudster | Call 1930 or report on the National Cybercrime Reporting Portal, and inform your bank. |
Always check the account holder's name your bank shows before you confirm. Never share your OTP or banking password with anyone.
History of RTGS
RBI introduced RTGS so that large payments could be settled one by one, with certainty, instead of waiting for batches.
RTGS goes live for transfers between banks.
Customers can send RTGS payments too.
RBI stops charging banks processing fees for RTGS and asks them to pass on the benefit.
RTGS becomes available 24×7, all 365 days, from 00:30 hours.
Banks must show the receiver's account name, free of charge, before you send an RTGS or NEFT payment.
FAQs
What is the minimum amount for RTGS?
₹2 lakh. There is no maximum limit set by RBI.
Does RTGS work on Sundays and bank holidays?
Yes. RTGS works 24×7 on all days, with only a short daily break at RBI's end of day.
How long does RTGS take?
The receiver's bank must credit the money within 30 minutes. If it cannot, the money comes back within an hour.
Is there a charge for receiving RTGS?
No. Banks cannot charge for incoming RTGS payments.
Can I cancel an RTGS payment?
No. RTGS payments are final and irrevocable once settled.
Official sources
- RBI – RTGS FAQs (updated 14 Oct 2026) (accessed 30 Oct 2026)
- RBI – Press release on RTGS launch (16 Aug 2004) (accessed 30 Oct 2026)
- RBI – RTGS available 24x7x365 from 14 Dec 2020 (accessed 30 Oct 2026)
- RBI – Round-the-clock availability of RTGS (circular) (accessed 30 Oct 2026)
- RBI – Beneficiary account name look-up for RTGS and NEFT (30 Dec 2024) (accessed 30 Oct 2026)
- RBI – RTGS System Regulations 2013 (UTR structure and channel codes) (accessed 30 Oct 2026)
- RBI – LEI FAQs (accessed 30 Oct 2026)
- SBI – RTGS/NEFT FAQs and charges (accessed 30 Oct 2026)
- Axis Bank – What is a UTR number (accessed 30 Oct 2026)
Found a mistake?
Get new acronym guides
Hear when we publish new guides to Indian banking, tax and government terms.