What are RTGS and NEFT
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eAnswers Team
“RTGS” or “Real time gross settlement systems” is a funds transfer system where money transfer or securities takes place from one bank to another bank. This all done on a real time and on a gross basis. Whereas “NEFT” or “National Electronic Funds Transfer” is another system which provides facilities to individuals, firms etc., in order to electronically transfer funds from any bank branch to any individual, firm or corporation having an account with any bank branch in the country.
eAnswers Team
“RTGS” or “Real time gross settlement systems” is a funds transfer system where money transfer or securities takes place from one bank to another bank. This all done on a real time and on a gross basis. Whereas “NEFT” or “National Electronic Funds Transfer” is another system which provides facilities to individuals, firms etc., in order to electronically transfer funds from any bank branch to any individual, firm or corporation having an account with any bank branch in the country.
eAnswers Team
“RTGS” or “Real time gross settlement systems” is a funds transfer system where money transfer or securities takes place from one bank to another bank. This all done on a real time and on a gross basis. Whereas “NEFT” or “National Electronic Funds Transfer” is another system which provides facilities to individuals, firms etc., in order to electronically transfer funds from any bank branch to any individual, firm or corporation having an account with any bank branch in the country.