Prashant Singh Chauhan answered this
Difference Between NEFT and RTGS
1. The basic difference between them are settlement timings. RTGS is based on the gross settlement where the transaction is settled on an instruction by instruction basis. NEFT is an electronic fund transfer system that operates on a Deferred Net Settlement (DNS) basis which settles transactions in batches.
2. As per the Reserve Bank of India for RTGS the minimum amount should be above Rs 2 lakh and NEFT has no limit either minimum or maximum ? on the amount of funds that could be transferred using NEFT.
3. RTGS is done on continuous basis whereas NEFT operates in hourly batches - there are eleven settlements from 9 am to 7 pm on week days (Monday through Friday) and five settlements from 9 am to 1 pm on Saturdays.
1. The basic difference between them are settlement timings. RTGS is based on the gross settlement where the transaction is settled on an instruction by instruction basis. NEFT is an electronic fund transfer system that operates on a Deferred Net Settlement (DNS) basis which settles transactions in batches.
2. As per the Reserve Bank of India for RTGS the minimum amount should be above Rs 2 lakh and NEFT has no limit either minimum or maximum ? on the amount of funds that could be transferred using NEFT.
3. RTGS is done on continuous basis whereas NEFT operates in hourly batches - there are eleven settlements from 9 am to 7 pm on week days (Monday through Friday) and five settlements from 9 am to 1 pm on Saturdays.
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Pallavi Rastogi answered this
Rtgs is a realtime gross settlemement system.
This is the fastest money trasfer system using internet through bank.
Neft is a nation electronic money tranfer system.
Using this system we can electronically transfer funds from any bank branch.
This is the fastest money trasfer system using internet through bank.
Neft is a nation electronic money tranfer system.
Using this system we can electronically transfer funds from any bank branch.
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Nachal answered this
RTGS- real time gross settlement
th continuous settlement of funds transferred individually on an order by order basis.settlement takes place in books of RBI and thus payments are considered final and irrevocable.
NEFT- national electronic funds transfer
the NEFT is the nation wide payment system facilitating one to one funds transfer, under his sytem individuals and firms can electronically teansfer funs from one bank to any individual
th continuous settlement of funds transferred individually on an order by order basis.settlement takes place in books of RBI and thus payments are considered final and irrevocable.
NEFT- national electronic funds transfer
the NEFT is the nation wide payment system facilitating one to one funds transfer, under his sytem individuals and firms can electronically teansfer funs from one bank to any individual
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Janvi Bhatnagar answered this
RTGS (Real time gross settlement)
1. Transfer money and securities take place from one bank to another on real time or gross basis
2. Minimum value of transaction should be Rs.2 lakh
3.72000 branches provided this facilities
NEFT(National electronic fund transfer)
1. The transaction are not settle as soon as they are proceeded and bunched or netted with other transaction and then settled.
2. There is no minimum value for transaction.
3.75000 banks provided this facilities
1. Transfer money and securities take place from one bank to another on real time or gross basis
2. Minimum value of transaction should be Rs.2 lakh
3.72000 branches provided this facilities
NEFT(National electronic fund transfer)
1. The transaction are not settle as soon as they are proceeded and bunched or netted with other transaction and then settled.
2. There is no minimum value for transaction.
3.75000 banks provided this facilities
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Sanjiv answered this
NEFT- 1) NEFT is Net Settlement basis.
2) no minimum value for NEFT.
3) NEFT is available in 75,000 branches of bank
RTGS- 1) RTGS is on gross settlement basis
2) the minimum transaction value of RTGS is Rs 2,00,000
3) RTGS facilities are available in over 72,000 branches
2) no minimum value for NEFT.
3) NEFT is available in 75,000 branches of bank
RTGS- 1) RTGS is on gross settlement basis
2) the minimum transaction value of RTGS is Rs 2,00,000
3) RTGS facilities are available in over 72,000 branches
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Sid answered this
What is that
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Divyanshu Kannaujiya answered this
3difference between rtgs and neft
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Omgurungtamu answered this
Please find this answer
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