Adoption of Real Time Gross Settlement in Bangladesh: A study on some selected banks

Anowar Parves

International Journal of Science and Business, 2019, vol. 3, issue 1, 184-194

Abstract: Economic growth of a country is fostered by the development of financial services. Electronic financial services play an important role in upgradation of payment systems. In recent years, payment system in Bangladesh has undergone a few dramatic changes. In the changes Real Time Gross Settlement(RTGS) is an important element which can be a strong catalyst for development of payment systems in the electronic banking and financial services. Though Bangladesh has adopted some electronic financial services like ATM, Internet Banking, BEFTN, RTGS etc. the rate of embracing these services are still low. Financial services of the country is yet to reach the global banking standard and upgradation is needed in some areas. This study has been done with both primary and secondary sources of data, which included different research articles and newspapers. The purpose of the study is to depict the present scenario of RTGS in the banking system of Bangladesh. This paper has demonstrated the scope and advantages of RTGS as compared to other electronic banking services prevailing in the country. The study has talked about the knowledge differences among the users of payment systems and providers of payment services. This paper seeks to identify the awareness of end-user financial services. The discussion has some limitations and the implication of these have been described.

Keywords: Banking; Payment Systems; Electronic Payment; RTGS; Bangladesh (search for similar items in EconPapers)
Date: 2019
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