RTGS is an electronic mode of transferring funds. The full form of RTGS is Real Time Gross Settlement, which means the money is transferred in gross amount on a real time basis. According to the Reserve Bank of India guidelines, the money must be transferred within 30 minutes of initiation of RTGS. Canara Bank makes RTGS a simple and fast process. The remitter has to fill just a single Canara Bank RTGS form and deposit the amount.
RTGS system is meant only for high volume transactions; the minimum amount which can be transferred via this electronic money transfer process is Rs 2 lakhs. The Canara Bank has stated no upper ceiling for RTGS transactions. Account holders can perform this transaction by either filling the form online (through net banking or mobile banking) or by filling the hard copy of Canara Bank RTGS form. Senders can also download the form from the bank website and get a print of the same. The online form highlights any error in red color.