1. #1
    softashok1993
    Join Date
    Aug 2012
    Location
    chennai
    Posts
    1

    What is meant by NEFT and RTGS?

    hi
    what is meant by NEFT and RTGS?





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  3. #2
    siddjain93
    Join Date
    May 2012
    Location
    Kanpur
    Posts
    630

    Re: What is meant by NEFT and RTGS?

    RTGS--> RTGS stands for Real Time Gross Settlement . RTGS is a process of funds transfer where transfer of money/ funds takes place from one bank to another on a real time and on gross basis. This is the fastest money transfer system in the banking system.

    NEFT--> NEFT stands for National Electronic Funds Transfer. It is a retail payment method for customers . In NEFT you can send any amount and it is settled 6 times in a day.




  4. #3
    avinashparashar
    Join Date
    Jun 2012
    Posts
    744

    Re: What is meant by NEFT and RTGS?

    Dear Friend

    RTGS and NEFT are two most important conveinent modes of money transfer between different banks in India.

    The acronym RTGS stands for Real Time Gross Settlement.It allows transfer of money between two banks on real time and gross basis.



    NEFT stands for National electronic funds transfer.





    >>It is online transfer of funds between financial institutions.

    >>It was introduced in 2005 and is the improved version of electronics funds transfer.

    The difference between RTGS and NEFT is :

    1.RTGS is based on gross settlement and NEFT is based in net settlement process.

    2.RTGS is the fastest means of money transfer as it based on real time whereas NEFT is slower as it is based on internet.

    Hope the information is clear to you.


    avinashparashar

  5. #4
    Unregistered

    Re: What is meant by NEFT and RTGS?

    is there any limit to transfer the fund from one bank to another bank on daily basis?

  6. #5
    motto
    Join Date
    Jun 2012
    Posts
    1,855

    Re: What is meant by NEFT and RTGS?

    Hi...............
    Friends,

    RTGS stand for- Real Time Gross Settlement.

    NEFT stand for - National Electronic Found Transfer.


    The different between RTGS and NEFT like ::
    *********************************
    -->> RTGS basically based on gross settlement .

    -->> NEFT based on the settlement process.

    -->> RTGS is the fastest means of money transfer as it based on real time whereas.

    -->> NEFT is slower as it is based on internet.




    All the best..........................

  7. #6
    indyarocks
    Join Date
    Jul 2011
    Posts
    674

    Re: What is meant by NEFT and RTGS?

    Hello friend,

    RTGS--> RTGS stands for Real Time Gross Settlement .

    RTGS is a process of funds transfer where transfer of money/ funds takes place from one bank to another on a real time and on gross basis.

    This is the fastest money transfer system in the banking system.


    NEFT--> NEFT stands for National Electronic Funds Transfer.

    It is a retail payment method for customers .

    In NEFT you can send any amount and it is settled 6 times in a day.

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