This is a system where the processing of funds transfer instructions takes place at the time they are received (real time). RTGS: The acronym RTGS stands for Real Time Gross Settlement. Presently, NEFT operates half hourly batches from 8 am to 7 pm on all days except 2nd & 4th Saturday and Sunday & holidays. This system of fund transfer operates on a Deferred Net Settlement basis. RBI acts as the service provider and transfers the credit to the other bank's account. Funds are transferred to the credit account with the other participating Bank using RBI's NEFT service. NEFT: NEFT: The acronym NEFT stands for National Electronic Funds Transfer. Inter Bank Transfer is a special service that allows you to transfer funds electronically to accounts in other banks in India through:
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