GIFT is a one-stop integrated Payment & Settlement system providing an end-to-end straight-through processing (STP) of payment messages (inter-bank transactions) between the source bank & destination bank through the central bank, supporting batched, gross & bulk settlement modes. GIFT provides a robust framework with an end-to-end security, cost effective and long-term scalability. The unique design of GIFT enables the co-existence of Payment & Settlement system in a modular fashion.

payment modes

  • Real Time Gross Settlement (RTGS)

    Is a real-time payment module that receives payment instructions from the member banks, validates & processes it toward the settlement system immediately. It contains only one payment instruction, triggered on a minimum payment amount, operates for a limited time-window & can be reset by the regulator at the settlement system

  • Batched Interbank Transfer System (BITS)

    Is a batched and net settled payment module. It contains 10 payment instructions bundled into a message for processing & configured to operate within a payment limit. Payment instructions received from member banks are batched in the settlement system and allocated to the upcoming batch. Typical bits batches are settled every hour during bank working hours & can be reset by the settlement system by the Regulator

  • Bulk Payment and Settlement

    Bulk messages contain payment instructions from a bulk sender like Government accounts to beneficiaries across multiple banks. It contains up to 1,000 Payment instructions in one message for processing and settled like RTGS. This mode is used for Government salary payments, EMI payments to banks on behalf of employees and so on.


Payment System

  • Payment mode: Real-time, Batched & Bulk payment
  • STP of payment messages between source bank & destination bank through Central bank
  • End-to-End payment message lifecycle with tracking & reconciliation
  • Payment Messages supported: debit, credit, confirmation, rejection & reconciliation

Settlement System

  • 01
  • 02
    GL Posting
  • 03
    Credit Confirmation


  • User

  • Audit

  • Reconciliation

  • Report

  • Multi Currency