RTGS/NEFT

RTGS/NEFT

RTGS

Real-Time Gross Settlement(RTGS) refers to fund transfer systems in which the transfer of money or securities takes place from one bank to another on a 'real-time' and 'gross' basis. In Real-Time settlements, the payment transaction is not subjected to any waiting period. The transactions are settled as soon as they are processed. 'Gross settlement' means that the transaction is settled on one to one basis without netting with any other transaction.

NEFT

National Electronic Funds Transfer (NEFT) is an electronic fund transfer system that enables the transfer of funds to other bank accounts across the country. The advantage with NEFT is that it is a secure, safe, quick and cost-effective means to transfer funds, especially for retail remittances.