RTGS Fund Transfer Online

RTGS Fund Transfer

Find how to transfer money via RTGS? This is the  guest post by banksifsccodes.com.  Here you can get tips that how to do RTGS Fund Transfer.

RTGS also known as Real Time Gross Settlement, as defined by the RBI, is a continuous and a real-time settlement of fund transfers individually on an order-by-order basis. The transfer takes place from bank to bank and not between individuals.

‘Real Time’ means the processing of instructions at the time they are received rather than at some later time, which means that the transactions are settled as soon as they are processed; ‘Gross Settlement’ means the settlement of funds transfer instructions occurs individually.

RTGS Fund Transfer Online

This means that the transactions are settled on a one-on-one basis without any bundling or netting with any other transaction. Here a settlement means that once processed, payments are final and irrevocable.

RTGS Fund Transactions

RTGS transactions are usually used to facilitate high value transactions that require and receive immediate clearing. RTGS is always used with a sense of urgency as in some countries it is always used to settle transactions when either parties are in urgent need of money.

The RTGS system is monitored and controlled by the countries central bank, in this case, that would be the Reserve Bank of India. It is purely electronic in nature without any physical movement of money. This electronic transfer is done so as to reduce the amount of risk involved in fund transfer in high amounts.

The best RTGS national payment system, cover up to 95% of high-value transactions within the national monetary market.

RTGS Fund Transfer

RTGS systems are an alternative to systems of settling transactions at the end of the day, also known as the net settlement system, such as the BACS system in the United Kingdom.

In a net settlement system, all the inter-institution transactions during the day are accumulated, and at the end of the day, the central bank adjusts the accounts of the institutions by the net amounts of these transactions.

Most of the RTGS systems in place are secure and have been designed around international standards and best practices.

RTGS differs from NEFT in the settlement time. In the case of NEFT, there are batches defined for settlement and if a transaction crosses the stated time, it has to wait for the next batch to be processed.

Transactions in RTGS are processed continuously throughout the working hours. So we can say that the RTGS system works on a more spontaneous basis compared to the NEFT system. Also the NEFT system is based on transfer of funds between individuals and not banks.

Minimum amount of transfer required for RTGS is Rs. 2 lakh. There is no upper limit, though.  The beneficiary bank has to credit the beneficiary’s account within two hours of receiving the funds transfer message.

RTGS Fund Transfer Service

The service window for RTGS at banks is available from 9am to 4.30pm on week- days and from 9am to 1.30pm on Saturdays for settlement at the RBI end. For RTGS, inward transactions (when you receive funds through RTGS) are free.

For outward transactions (when you send funds via RTGS), if the amount is between Rupees 2 lakh and Rupees 5 lakh, the charges will be up to Rupees 30 per transaction. If the amount transferred is above Rupees 5 lakhs, the charges can’t exceed Rupees 55 per transaction.

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UTI is actually is a financial organization of India. Now it becomes UTITSL (UTI infrastructure Technology and Services Limited) that provides the technology and outsourcing service to the financial sectors of India. They started work with making Pan Card and apply Pan Card online.

What is Pan Card?

Pan Card contains an important ID which is helpful in paying taxes online, and to avoid the deduction of tax at higher rate. For the business tycoons and taxable salaried persons this is one of the finest ID proof to pay tax online directly. Also you can check income tax returns as well the taxable amount with this Permanent Account No. If your salary is taxable or investment in security exceeds than 50,000 you are eligible to get the Pan Card No. You can register for Pan Card in both online and offline method. Once you submit the form you will be given the Pan Application No. It shows that you have applied for Pan Card. But since long time waiting you are not getting your Pan Card, you can check the Pan Card status online now. This will help you in showing the actual process of making of Pan Card. here is the step by step guide to check the Pan Status, please follow us here under.


How to Check UTI Pan Card Status

Once you get the Pan card application status No it is the easiest task to check the current process of TAN no. How let’s find it out here under.

· Go to the online website of UTITSL or NSDL Pran.

· Once you enter in this link you will see the Know Your Pan Status Link.

· Click on that link and be ready with your Pan Application No now.

· Now you will be asked to enter your application no in the required column.

· Just write it down and submit it.


Immediately click here if you will see the TAN or PAN status will appear on screen. Though you have applied for the duplicate Pan Card, New Pan Card or change in the address and name in PAN card, you will surely get the Pan Card status using above mentioned method.

The TDS traces (CPC) portal also offers an online facility of PAN Verification. TDS TRACES is new portal a launched by the income tax department of India. TRACES stands for TDS Reconciliation Analysis and Correction Enabling System. The portal allows online correction of the filed TDS returns. PAN details and challan update can also be done on this correction based system. The online PAN verification on TDS traces online allows you to validate the PAN. This validation is done for the purpose of reporting and recording your transactions of the correct TDS statements.


How to Verify PAN/TAN at TDS Traces.

We give here a few-minutes online process to verify your PAN at the tdscpc.gov.in. Follow the instructions and website address of the TDS Traces given here:

1. Login at the TDS traces website at tdscpc.gov.in using your login id and password.

2. Also enter your PAN or TAN number. If you are a tax deductor, enter your TAN number. Tax payers should type their PAN number.

3. If you are not registered, click on ‘register as new user’ and create login id.

4. After login, go to the dashboard.

5. You will find an option of “PAN Verification” in the menu of Quick Links at the dashboard.

6. You can also download consolidated TAN-PAN file. This facility involves all the PANs with respect to the TANs.

7. Read more If you want to verify a single PAN, use the option of ‘search PAN’.

8. In order to verify multiple PANs, use the option of “Download consolidated PANs-TANs.

9. Fill up all the details for the financial year or quarter.

10. After you submit all the data, you will be issued an online unique request number.

Pan Card Status

You can track the status of your request using the unique request number at the traces portal. Also know status of nsdl pan at its official website. The status messages will show if the request is submitted or processed. The reporting of the correct PAN data is now mandatory. Reporting of invalid PANs can bring issues in the processed TDS. Verification of PAN helps in generating correct TDS to the deductees. The tax payer can avail TDS credits correctly in time if the PAN is verified.

The government has developed a software program or a mobile app with database of more than 19 crores vehicles running in New Delhi. This web application cum mobile app is developed by NIC. The National Informatics Centre has developed this web application for the Ministry of Transport of Roads and Highways. This app is claimed to be providing a very efficient system to fine traffic rules defaulters.

Online traffic challan tracking is already applied by Hyderabad traffic police. Rule breakers can pay their traffic challan online and can also track the status of the traffic challan. By entering the vehicle number and license number, one can know if any challan is pending against them. The minister for transport also said that the system will be gradually implemented all over the country. The software will maintain a unified database of all the traffic violations, details of all the violators, disposals, traffic Challan, and penalties, and actions.

Traffic Challan Status

Right now, this mobile app cum application is going through the major implementation in few states. It is under pilot implementation in Uttar Pradesh. It is also through the testing in Maharashtra and Uttarakhand.

Currently this software is loaded with 19 crore vehicle details. It also carries 9 crore records of the driving licence records. Any state traffic police can access this database across the country to track any driver or vehicle. With the implementation of this software, the traffic Challan Status system in the country will be revolutionized.

Traffic Challan

It will also be very easy for any state police to track any vehicle and license details. Traffic police will be relived a lot as it will be too simple and quick to clear the pending Challan 280. Likewise, traffic police of Hyderabad, Telangana, Uttar Pradesh and Delhi, the traffic police of other states is also expected to go digital very soon.

In a yet another latest initiative, the Delhi traffic police will be installing a digital device on the windscreen of their cars to record traffic offences in the streets. The cameras will also record the time of the offence.