The acronym ‘RTGS‘ stands for Real Time Gross Settlement.
Real-time gross settlement systems are specialist funds transfer systems where the transfer of money or securities takes place from one bank to any other bank on a “real-time” and on a “gross” basis. Wikipedia
As per Reserve Bank of India (RBI), Online transfer of funds through RTGS will now be available round-the-clock from December.
The step is being taken by RBI to facilitate innovations in the large-value payments ecosystem and promote ease of doing business