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