Difference between NEFT and RTGS

Question

Accepted Answer

NEFT and RTGS are electronic funds transfer systems used in banking.

NEFT stands for National Electronic Funds Transfer and RTGS stands for Real Time Gross Settlement.
NEFT is used for transferring funds up to a certain limit, typically with a time delay, while RTGS allows for immediate and real-time transfer of large amounts.
NEFT operates in hourly batches, while RTGS operates continuously throughout the working hours of the bank.
NEFT transactions are settled in net amounts, while RTGS transactions are settled individually.
NEFT is more commonly used for retail transactions, while RTGS is used for high-value transactions like interbank transfers or large business payments.

Accepted Answer

Neft is should be upto 2 lac amount transferred only and above 2 lack amount to onwards is should b a RTGS.

Accepted Answer

While NEFT has no minimum or maximum limit on the amount to be transferred, RTGS transactions can only be performed if the amount to be transferred is equal to or more than Rs. 2 lakh. Similarly, NEFT transactions take around 2 hours to be processed, while RTGS transactions are processed immediately.

Difference between NEFT and RTGS

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