RTGS Code of all Bank of RBI 2020

RTGS Payment Method 

• RTGS is required for the transfer of amount from one account to another via the internet.In RTGS payment use the IFSC code , Bank Name,  Branch Name, Beneficiary Name,  RTGS form duly signed with sender account holder. 

• Real-time gross settlement (RTGS) systems are specialist funds transfer systems where the transfer of money or securities takes place from one bank to any other bank on a "real-time" and on a "gross" basis. RTGS systems are typically used for high-value transactions that require and receive immediate clearing.
• Nowadays when time is of essence, RBI offers, Real Time Gross Settlement (RTGS) payments & Receipts system, a solution for faster and most efficient settlement system for our esteemed customers. This payment mechanism will enable funds to be received by the recipient intra-day, rather than the net settlement system exchanges that occur at the end of the banking hours.

The RTGS product would provide the following benefits: 

       Speed – Guaranteed & Fast settlement of transactions 
       High Liquidity – Lowering interest costs 
       Better Funds Management - Ensures optimum planning and utilization of funds 
       Hassle free High Value settlement - Elimination of collections thru physical H/V clearing 
       Reduces Paper work and improves efficiency 
       Eliminates "Settlement Risk" & "Systemic Risk" 

RTGS Charges 

The Reserve Bank of India has waived all charges on RTGS transfers from July 1, 2019, on. They have applied the same ruling to NEFT transfers with the intention to have more Indians switch from physical checks and demand drafts to one of these modes of digital transfers for their payments

RTGS FORM OF IDBI BANK  DOWNLOAD PDF