RTGS

Real Time Gross Settlement (RTGS) System is set up, operated and maintained by Reserve Bank of India to enable funds settlement on real-time basis across Banks in the country. GS Mahanagar Co-op. Bank Ltd is a member of RTGS with all its branches offering this facility.
The main benefit of the RTGS is that the payee Bank and their customers receive funds with certainty, or so-called finality, during the day, enabling them to use the funds immediately without exposing themselves to risk. You can now remit money to any of the designated bank branches all over India which will reach the beneficiary the same day, within hours. Presently there are more than 1,60,000 RTGS enabled bank branches.The latest list of these branches is available on the RBI website at the link https://rbi.org.in/Scripts/Bs_viewRTGS.aspx?Category=5.

  • GS Mahanagar Co-operative Bank Ltd offers instant remittance facility through RTGS to both corporate and individual customers for transfer of funds from their accounts with us to customers of other bank branches, which are RTGS enabled. GS Mahanagar Co-op. Bank Ltd customers can also receive funds from other RTGS enabled bank branches. The minimum amount to be remitted through RTGS is Rs 2.00 lakh with no upper limit.
  • Presently All branches of GS Mahanagar Co-operative Bank Ltd., are offering this facility.
  • Customer who is willing to transfer the funds will be required to provide the IFSC Code (list available on link https://rbi.org.in/Scripts/Bs_viewRTGS.aspx?Category=5) of the branch where the funds are to be transferred, along with other details of the beneficiary - name, account number, etc. If they are to receive funds from others, they can inform the details like IFSC Code (of the branch of GS Mahanagar Co-operative Bank Ltd where account is maintained), account number, etc to the sender.
  • Benefits to Customers :
    • Transfer of funds on the same day
    • No courier/postal charges
    • No physical loss or material changes while in transit
    • Fully secured
    • Savings on interest cost
    • Better cash management
  • Outstation Outward Remittance (Per transaction charges)- Please click here
  • The RTGS Time : 24x7x365

    • Please note that the timings are subject to change as per RBI notification.