RTGS & NEFT

RTGS- Real Time Gross Settlement- This is a system where the processing of fund transfer instructions takes place at the time they are received (real time). Also the settlement of fund transfer instructions occurs individually on an instruction by instruction basis (gross settlement). RTGS is the fastest possible interbank money transfer facility available through secure banking channels in India.

NEFT- National Electronic Fund Transfer- This system of fund transfer operates on a Deferred Net Settlement basis. Fund transfer transactions are settled in batches as opposed to the continuous, individual settlement in RTGS. Presently, NEFT system is done on half-hourly basis. There are twenty three half-hourly settlement batches run from 8 am to 7 pm on all working days of week (Except 2nd and 4th Saturday of the month).

Services for RTGS & NEFT are available on :

RTGS transactions are sent to RBI as per the following schedule:

NEFT transactions will be sent to RBI based on the following schedule:

The beneficiary can expect to get credit for the NEFT transactions within two business hours from the batch in which the transaction was settled.

Please note:

All the above timings are based on Indian Standard Time (IST) only.

2^nd and 4^th Saturday of every month will be Holiday.