What is RTGS?
RTGS is part of the Reserve Bank of India's initiative to build an integrated national payment and settlement system. It handles high-value inter-bank fund transfers in real time — each payment instruction is processed and settled individually and continuously throughout the day, rather than in batches.
How it Works
Each participating bank holds a dedicated settlement account with RBI's Deposit Account Department in Mumbai, funded at the start of each RTGS day and swept back to zero at day's end. Payments are ordinarily settled within about two hours of being received by the beneficiary bank, and the system lets urgent payments be prioritised ahead of others already in the queue.
Benefits
- For the bank: immediate, irrevocable settlement and high-value transfer capability.
- For customers: access to reliable, high-value funds transfer, with structured customer information carried alongside the payment to the beneficiary's bank.
Available at Every Branch
All branches of The Baghat Urban Co-operative Bank Ltd. offer RTGS. For a branch contact person, phone number, and address, see Contact Us.
| NEFT — Monday to Friday | Up to 5:00 PM |
| RTGS — Monday to Friday | Up to 4:30 PM |