The RTGS system facilitates transfer of funds from accounts in one bank to another on a “real time” and on “gross settlement” basis. This system is the fastest possible interbank money transfer facility available through secure banking channels in India. RTGS enables an efficient, secure, economical and reliable system of transfer of funds from bank to bank as well as from remitter’s account in a particular bank to the beneficiary’s account in another bank across the country. An electronic payment system in which payment instructions between banks are processed and settled individually and continuously, on a real time basis.