There is no maximum limit for Real-Time Gross Settlement (RTGS) transactions per day. However, there is a minimum limit of ₹2 lakhs for each RTGS transaction.
RTGS Transaction Limits Explained
Unlike some other electronic fund transfer methods, RTGS is designed for high-value transactions. This is why a minimum transaction amount is enforced, and no upper limit is typically imposed by the Reserve Bank of India (RBI).
Minimum Limit
- ₹2 lakhs: All RTGS transactions must be at least ₹2 lakhs.
Maximum Limit
- No RBI-Imposed Limit: The RBI does not set an upper limit on RTGS transfers.
- Bank-Specific Limits: Individual banks may impose their own upper limits for security or operational reasons. You should check with your bank to confirm if they have any such limits in place. These limits can vary widely from bank to bank.
- Purpose of Bank Limits: Banks implement daily limits to mitigate risk and protect customers from potential fraud or unauthorized transactions.
How to Conduct RTGS Transactions
To conduct an RTGS transfer, you will need:
- An RTGS-enabled bank account.
- The beneficiary's (recipient's) bank name and branch.
- The beneficiary's account number.
- The beneficiary's IFSC (Indian Financial System Code).
You can typically initiate RTGS transfers through:
- Online banking portals
- Mobile banking apps
- Visiting your bank branch
Key Takeaways
- The minimum RTGS transaction amount is ₹2 lakhs.
- The RBI does not impose a maximum RTGS transaction limit.
- Your bank may have its own maximum RTGS transaction limit. It's important to check with your bank for clarification.
