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It was launched by the RBI in 2013. The transactions are settled on real time basis. What does it mean?

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It was launched by the RBI in 2013. The transactions are settled on real time basis. What does it mean? Write a short note about this?

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Real Time Gross Settlement Systems (RTGS) was launched by the RBI in 2013. The transactions are settled on real time basis. Gross settlement means the transaction is settled between one bank and another bank without adding any other transactions.

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