Real Time Gross Settlement (RTGS) is a system where there is continuous (real-time) settlement of individual funds transfer orders. 'Gross Settlement' means the settlement of funds transfer instructions occurs individually (on an instruction-by-instruction basis). Because RTGS is a real-time system, transactions are settled as soon as they are processed. In India, the RTGS system is operated and maintained by the central bank, the Reserve Bank of India (RBI). It is used for large-value interbank transactions.