1.

Distinguish between NEFT and RTGS.

Answer»

NEFT: NEFT- National Electronic Funds Transfer service can be used for sending funds inter-bank and intra-bank. The limit of remitting funds is from Rs 1 to limitless.

RTGS : RTGS – Real Time Gross Settlement service can also be utilized for sending funds inter-bank and intra-bank, but the minimum amount is Rs 2 lakh and no upper limit.

NEFT: Timings : 09:00 hours to 19:00 hours (Monday to Friday) 09:00 hours to 13:00 hours (Saturday)

RTGS: Timings : 09:00 hours to 16:30 hours (Monday to Friday) 09:00 hours to 13:30 hours (Saturday)



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