SERVICES >> RTGS / NEFT

::: REMITTANCES >> RTGS / NEFT

RTGS for amount above INR.100,000/-.

The RTGS (Real Time Gross Settlement) system is a funds transfer system that is able to provide continuous intra-day finality for individual transfers. In this system, payment instructions between banks are processed and settled individually and continuously throughout the day.

Transactions across RTGS move only where the remitting (sending) bank has liquidity. Thus RTGS is an approach to risk reduction and it aims at reducing inter-bank settlement risk . In the RTGS system, payee banks and their customers receive funds with certainty, or so-called finality, during the day, enabling them to use the funds immediately without exposing themselves to risk.

» RTGS provides you the following value added features :

Quicker settlement cycles
Assured finality of settlement
Intra Day Credit/Liquidity
Reduced operational risk of fraud and loss of cheques
Secure transactions
Controlled flow of transactions
Wider day time window for collections / payments
Cuts across geographical boundaries

National Electronic Fund Transfer (NEFT) :

The NEFT facilitates the transfer of funds electronically from one customer’s account to another’s account between NEFT participant bank branches in India.

It offers an efficient, secure, economic, reliable and expeditious solution of funds transfer. The NEFT system, in contrast with RTGS System, settles in batches at different intervals.

While RTGS is used for high value transactions (above INR 1 Lakh), NEFT can be used for any amount, inclusive of paisa component.

Go Up