Explanation:

RTGS (Real-Time Gross Settlement) is a funds transfer system operated by the Reserve Bank of India (RBI) that facilitates real-time, one-to-one electronic fund transfers between banks and financial institutions in India. RTGS enables instantaneous and irrevocable transfer of funds from the sender's bank account to the recipient's bank account on a gross basis, meaning each transaction is settled individually and without netting against other transactions. RTGS transactions are processed in real-time and settled immediately upon receipt, providing a secure, efficient, and reliable payment mechanism for high-value transactions such as interbank transfers, large-value payments, capital market transactions, and corporate payments. RTGS operates on a 24x7 basis, allowing banks to initiate and receive fund transfers round the clock, including weekends and holidays, thereby enhancing the speed and convenience of electronic payments in India's banking system.