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What is the difference between NEFT and RTGS |
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Answer» 1.RTGS means real time gross settlement which transfers funds from one bank ac to another in real time 2.the transactions are settled as soon as they are processed3.the transactions are not processed in batches 4.minimum value for rtgs is 2 lakh ×-×-×-×-×-×-×-×-×-×-×-×-×-×-×-×-×-×-×-×-×-×-×-×-×-×-1.NEFT is national elactronic funds transfer which allows funds to transfer from any bank branch with any another bank branch across country 2.it settle transactions in batches 3.it take place 11 times during weak days and 5 times during saturday 4. there is no minimum and maximum value to do NEFT 1.RTGS done real time. NEFT done on batches 2.rtgs stand for Real time gross settlement. NEFT stand for National electronic fund transfer \tReal Time Gross Settlement System (RTGS)\u200bNational Electronic Fund Transfer (NEFT)1. RTGS is a fund transfer system where transfer of funds takes place from one bank account to another bank account in real time.NEFT is a electronic fund transfer system, the system provides with transfer of funds to other bank accounts in various branches over the country.2. The minimum amount that can be remitted is Rs 2 lakh per transaction. There is no upper limit for RTGS transactions.There is no minimum and maximum limit for NEFT transactions.\t\xa0 |
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