What is RTGS?
Real Time Gross Settlement (RTGS) System is set up, operated and maintained by Reserve Bank of India to enable funds settlement on real-time basis across RTGS enabled banks in the country. This is the fastest possible money transfer system through the banking channel. The RTGS system is primarily for large value transactions. The minimum amount to be remitted through RTGS is Rs.2 lakh.
|Operating Sessions RTGS||Monday to Friday - Hours||Saturday - Hours|
|Customer Transactions||9.00 - 16.00||9.00 - 13.30|
What is NEFT?
National Electronic Funds Transfer (NEFT) system is a nationwide funds transfer system to facilitate transfer of funds from any NEFT enabled bank branch to any other NEFT enabled bank branch. Funds transferred under NEFT will be credited to the beneficiary’s account on the same day.
|Operating Sessions NEFT||Monday to Friday - Hours||Saturday - Hours|
|Customer Transactions||9.00 - 18.30||9.00 - 12.30|
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