RTGS or Real Time Gross Settlement is an online remittance facility offered by all the banks in India that come under the purview of the RBI. As the name suggests, RTGS payments are processed on a real-time basis and are usually credited to the beneficiary account within an hour. One has to fill Vijaya Bank RTGS form to carry out such high volume transactions through the branch, else, they can do it online through net banking.
As per the current guidelines, RTGS transactions can be initiated for amounts above Rs. 2,00,000 only. You can apply for an RTGS transaction through the branch of your bank or through your net-banking account. RTGS is an irrevocable transaction and is processed based on the account number and IFSC of the beneficiary. In case of any discrepancy, the liability would be yours.