About RTGS

Real Time Gross Settlement (RTGS) system is a funds transfer mechanism where transfer of money takes place from one bank to another
on a “real time” and on “gross” basis. This is the fastest possible money transfer system through the banking channel.

Ceiling in amount for RTGS transaction :

The RTGS system is primarily for large value transactions.

The minimum amount to be remitted through RTGS is Rs.1 lakh.

There is no upper ceiling for RTGS transactions

Transaction hours :

The RTGS service for customer's transactions is available from 9.00 hours to 16.30 hours on week days(Monday-Friday)

and from 9.00 hours to 12.00 noon on Saturdays.

Time limit for credit :

The beneficiary bank credits the beneficiary's account within two hours of receiving the funds transfer message.

Indian Bank’s Indjet Remittance facility :

Indian Bank’s Indjet Remit facility is available under RTGS to customers of all our Core Banking System (CBS) branches for

 transfer of funds from their accounts with us to accounts of customers of other RTGS enabled bank branches. Similarly Indian Bank

 customers can also receive funds from others who are having accounts with other RTGS enabled bank branches.

This is most safe, secure remittance facility. The funds will be available for immediate use. Cheaper remittance facility
 compared to conventional remittance like DD or Collection of cheques.

The essential information required for RTGS remittance :

The remitting customer has to furnish the following information to a bank for effecting a RTGS remittance:

1.      Amount to be remitted

2.      His/Her account number which is to be debited

3.      Name of the beneficiary bank

4.      Name of the beneficiary customer

5.      Account number of the beneficiary customer

6.      Sender to receiver information, if any

7.      The IFSC code of the receiving branch

(To know the IFSC code, our branches will help).

The customers of our Bank, who are receiving inward remittance through RTGS have to inform the 9 digit CBS

 account number (without hyphen or space between digits) to the remitter for instant credit.

Click here for the list of our branches with the IFSC codes which are RTGS enabled.

Note: The request for RTGS will be accepted up to 15 minutes before the cut off timings at our Branches. In case of Net Banking the requests will be accepted up to 30 minutes before the cut off timings.