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RTGS stands for “Real Time Gross Settlement.” RTGS is a system for the electronic transfer of funds that allows for the immediate transfer of large-value transactions. It is used to facilitate the settlement of financial transactions in real time, on a gross basis, meaning that each transaction is settled individually, rather than being netted out with other transactions. RTGS is typically used for high-value transactions, such as those involving banks, financial institutions, and large corporations, as it allows for the rapid settlement of funds and helps to reduce risk. RTGS systems are operated by central banks or other financial authorities, and they are typically used to facilitate the settlement of interbank transactions, as well as transactions between banks and their customers.

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