The acronym ‘RTGS’ stands for Real-Time Gross Settlement. Simply put, it is the process of continuous (real-time) settlement of funds, which occurs individually, on an order by order basis, without netting. In other words, your request to transfer or settle funds is carried out immediately, instead of the same happening in batches (as is the case in NEFT).‘Real Time’ indicates that the processing of instructions happens at the time they are received rather than at some later time. ‘Gross Settlement’ indicates that the settlement of fund transfer instructions occurs individually (on an instruction-by-instruction basis). Considering that the settlement of funds takes place in the books of the Reserve Bank of India, the payments made through RTGS are final and irrevocable. RTGS enables large value transactions between banks to be processed in real time. This means that the transactions are settled immediately and on a gross basis. This eliminates the risk of settlement or credit risk. RTGS is a secure and reliable system used by banks for a variety of purposes including high value payments, interbank transfers and settling financial market transactions. It helps facilitate large scale transactions and provides banks with an efficient and secure way to settle payments in real time. The use of RTGS has become widespread with many banks adopting the system as a key component of their electronic payment infrastructure. The Bank extending inward/outward RTGS facilities to its valued customer through, Yes Bank Ltd from February 2015 onwards.