PRESENTATION

ON
RTGS, NEFT & IMPS

BY:-
NISHANT ANAND
ROLL NO:- 2K19GO19
 RTGS (REAL TIME GROSS SETTLEMENT)
 RTGS system is a funds transfer mechanism where transfer of money
takes place from one bank to another on a 'real time' and on 'gross' basis.
 This is the fastest possible money transfer system through the banking
channel.
 Settlement in 'real time' means payment transaction is not subjected to
any waiting period. The transactions are settled as soon as they are
processed.
 'Gross settlement' means the transaction is settled on one to one basis
without bunching with any other transaction.
 Considering that money transfer takes place in the books of the Reserve
Bank of India, the payment is taken as final and irrevocable.
 NEFT (NATIONAL ELECTRONIC FUND TRANSFER)
 Funds are transferred to the credit account with the other participating Bank using
RBI's NEFT service.
 RBI acts as the service provider and transfers the credit to the other bank's
account.
 NEFT operate on a deferred net settlement (DNS) basis which settles transactions
in batches.
 In DNS, the settlement takes place at a particular point of time. All transactions
are held up till that time.
 Individuals, firms or corporates maintaining accounts with a bank branch can
receive funds through the NEFT system.
 IMPS (IMMEDIATE PAYMENT SERVICE)
 Initiated by NPCI along with 4 Member banks– SBI, Bank of India, Union Bank of India and
ICICI Bank
 Launched on 22nd November 2010
 Service available to Public
 To participate in IMPS, Banks should have approval from RBI
Objective of IMPS
 Make a Mobile as Channel
 Available – 24 X 7 X 365
 No more sharing of bank account details
 Instant
 Payment – Simple, convenient
 Time & cost saving
 Safe & Secure
 Immediate Confirmation
 Use existing payments infrastructure
(existing ATM networks)
 DIFFERENCE BETWEEN:-
RTGS, NEFT & IMPS
BASIS NEFT RTGS IMPS

MANAGED BY RBI RBI NPCI

MINIMUM Rs.1 Rs. 2 LAKHS Rs.1

TRANSFER
LIMIT
MAXIMUM NO LIMIT NO LIMIT Rs. 2 LAKHS
TRANSFER
LIMIT
CAN BE DONE YES YES, BUT WITH NO
OFFLINE CHEQUE

FUNDS 2 HOURS (S.T. IMMEDIATE IMMEDIATE

TRANSER CUT OFF TIMINGS
SPEED & BATCHES)
 CONTINUED…..
BASIS NEFT RTGS IMPS
SETTLEMENT GROUP (HALF ONE-ON-ONE ONE-ON-ONE
TYPE HOURLY BATCHES) SETTLEMENT SETTLEMENT

SERVICE MONDAY TO MONDAY TO 24x7

TIMINGS SATURDAY (EXCEPT SATURDAY (EXCEPT ANY TIME
2ND & 4TH SATURDAY) 2ND & 4TH SATURDAY)
8 AM TO 6:30PM 8 AM TO 6:00PM

DETAILS RECEIVERS BANK A/C RECEIVERS BANK A/C RECEIVERS BANK A/C
REQIURED TO NO. NO. NO.
TRANSFER IFSC CODE IFSC CODE IFSC CODE
OR
MOBILE NO.& MMID

TRANSACTION NO CHARGES NO CHARGES NO CHARGES

CHARGES FOR
RECEIVER
 BASIS NEFT RTGS IMPS

TRANSACTION UPTO Rs.10000 is Rs. 2 LAKHS to Rs.5 UPTO Rs.10000 is

CHARGES FOR Rs.2.50 LAKHS is Rs.30 Rs.2.50
SENDER + GST IS
ALSO APPLICABLE Rs.10000 to Rs. 1 Rs. 5 LAKH to Rs. Rs.10000 to Rs. 1
LAKH is Rs.5 10 LAKHS IS Rs.55 LAKH is Rs.5

Rs. 1 LAKH to Rs. 2 Rs. 1 LAKH to Rs. 2

LAKH is Rs 15 LAKH is Rs 15

Rs. 2 LAKH to 5
LAKH is Rs.25

Rs.5 LAKH & ABOVE

Rs.50