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RTGS (Real-Time Gross Settlement)

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    NK Bank offers Real Time Gross Settlement (RTGS) for high-value, time-sensitive fund transfers. RTGS provides quick and secure interbank transactions, making it appropriate for major payments such as business, property, and corporate payments. 

    The technology allows for a minimum transfer amount of ₹2 lakhs with no upper limit, assuring secure and efficient movement of large funds. RTGS lowers settlement risk by settling transactions individually rather than netting debits and credits, making it one of the most reliable payment processes for businesses and financial institutions. Its strong security architecture, endorsed by the RBI, ensures that high-value transfers run smoothly, with both sender and receiver receiving immediate notification upon completion.

How Does RTGS Work? 
  • Initiation: The sender submits an RTGS payment request using NK Bank's digital channels (Net Banking/Mobile Banking) or by visiting a branch.  
  • Processing: The transaction is validated and sent to the Reserve Bank of India's RTGS system for real-time settlement.  
  • Settlement: Funds are immediately credited to the beneficiary's account if the transaction is initiated during the RBI's RTGS working hours.  
  • Confirmation: The remitter and beneficiary are both notified immediately (by SMS/email) that the transaction was accomplished. 
Key Features of RTGS 
  • Real-time Transfer: Processing occurs instantly and without delay. 
  • High-Value Transactions: Minimum transfer limit of ₹2 lakhs (no maximum limit). 
  • Secure and Reliable: RBI-regulated with strong security measures. 
  • Interbank Transfers: Works across different banks in India. 
  • Final and irreversible: Transactions are irreversible once they have been processed. 
Details Required for RTGS Payments 
  • Beneficiary Name (as per bank records): The recipient's exact name as register in their bank account.  
  • Beneficiary Account Number: The correct bank account number to credit funds.  
  • Beneficiary Bank and Branch Name: The name of the recipient's bank and branch where the account is located.  
  • IFSC Code of the recipient's bank branch: An 11-digit alphanumeric code that identifies the beneficiary's bank branch. 
  • Minimum transfer amount is ₹2 lakhs: The transaction value must be ₹2 lakhs or more. 
  • Purpose of Payment (if required): A brief explanation of the payment purpose (such as "Business Payment" or "Loan Settlement"). 
Benefits of RTGS with NK Bank 
  • Immediate Settlement: There is no waiting period for high-value transfers. 
  • Convenience: Available through NK Bank's Internet Banking, Mobile App, and branches. 
  • Wide acceptance: Works for all major banks in India. 
  • Safe and regulated: Backed by the RBI's safe payment infrastructure. 
  • No risk of default: Funds are settled separately, lowering risk.