What is NEFT money transfer?

NEFT is the abbreviation of National Electronic Fund Transfer - This system of fund transfer doesn't happen real time but it operates on a Deferred Net Settlement basis. Fund transfer transactions are settled in hourly batches from 8 am to 7 pm on week days.

Currently there are two systems of Inter Bank Transfer – RTGS ( Real Time Gross Settlement ) and NEFT (National Electronic Fund Transfer).

Whats is RTGS money transfer?

RTGS is the abbreviation of Real Time Gross Settlement - This is a real time fund transfer processing system in India where the processing of funds transfer requests takes place at the time they are received .

Currently there are two systems of Inter Bank Transfer – RTGS (Real Time Gross Settlement) and NEFT (National Electronic Fund Transfer).