Explanation:

RTGS stands for Real Time Gross Settlement, which is the continuous (real-time) settlement of funds individually or on an orderly basis. ‘Real Time’ means the processing of instructions at the time they are received rather than some later time. ‘Gross Settlement’ means the settlement of fund transfer takes place on an instruction by instruction basis. Through RTGS, fund settlement takes place via the books of the Reserve Bank of India, so the payments are final and irrevocable.