'RTGS' (Real Time Gross Settlement) is a mode of fund transfer of RBI. The funds transferred through RTGS will be credited on a real time basis within a time span of of 30 – 40 minutes. The minimum amount to be remitted through RTGS is Rs. 2 lakh. There is no upper ceiling for an RTGS transaction.The e-Payment module was integrated to the e-procurement project of Government of Kerala on 17th April, 2013 where only two modes of fund transfer were enabled NEFT and Internet Banking. In-order to bring in more efficiency and multiple payment options Government of Kerala is introducing RTGS.
The RTGS payment mode for online payment of EMD and Tender fee for e-tendering was inaugurated by Shri P K Kunjalikutty, Hon’ble Minister for Information Technology on 13/08/2014 and the mode shall be available from 15th August 2014.
Henceforth, bidders can utilize facility and make the online fund transfer of tender fee and EMD via RTGS.