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    RTGS is a real-time funds settlement system operated by the Reserve Bank of India that enables instant transfer of money between banks. It is meant for large value transactions with a minimum of Rs. 1 lakh. NEFT is a nationwide system for transferring funds between bank accounts on the same day, with no minimum or maximum amount limits like RTGS.

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    RTGS is a real-time funds settlement system operated by the Reserve Bank of India that enables instant transfer of money between banks. It is meant for large value transactions with a minimum of Rs. 1 lakh. NEFT is a nationwide system for transferring funds between bank accounts on the same day, with no minimum or maximum amount limits like RTGS.

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    13 views1 page

    Bank

    Uploaded by

    bangaloretamilan
    RTGS is a real-time funds settlement system operated by the Reserve Bank of India that enables instant transfer of money between banks. It is meant for large value transactions with a minimum of Rs. 1 lakh. NEFT is a nationwide system for transferring funds between bank accounts on the same day, with no minimum or maximum amount limits like RTGS.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
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    of 1

    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.1 lakh.
    What is NEFT?
    National Electronic Funds Transfer (NEFT)
    system is a nation wide 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 and there is no
    minimum or maximum amount for remittance
    through NEFT.

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