RTGS stands for Real-Time Gross Settlement. It is a system used for transferring funds between banks or financial institutions on a real-time basis. In an RTGS system, transactions are settled individually and immediately as soon as they are processed, without any netting or batching of payments.

RTGS is typically used for high-value transactions where immediate and irrevocable settlement is required. It is commonly used for large interbank transfers, corporate payments, government transactions, and other high-value transactions.