"RTGS" stands for Real Time Gross Settlement. (=ساتنا in Iran)
RTGS system is a funds transfer mechanism where transfer of money takes place from one bank to another on a "real time" and on "gross (ناخالص)" basis. This is the fastest possible money transfer system through the banking channel. The transactions are settled as soon as they are processed. "Gross settlement" means the transaction is settled on one to one basis without bunching with any other transaction. Payment is taken as final and irrevocable.
EFT operates on a deferred net (معوق خالص) settlement (DNS) basis which settles transactions in batches. In DNS, the settlement takes place at a particular point of time. All transactions are held up till that time. Any transaction initiated after a designated settlement time would have to wait till the next designated settlement time. Contrary to this, in RTGS, transactions are processed continuously throughout the RTGS business hours.
Ref: http://www.rbi.org.in/SCRIPTs/FAQView.aspx?Id=65
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