hi freinds I just want 2 share the difference between one of the most common method for transfer of funds electronically.
RTGS V/S NEFT
RTGS is Real Time Gross Settlement, while NEFT is National Electronic Funds Transfer.
RTGS completes transactions in real-time, and is therefore faster than NEFT, which completes transactions in cycles.
RTGS is gross settlement, where a transfer is completed on a one-to-one basis, while NEFT is on a Deferred Net Basis, where transfers are bundled and deferred for a specific time.
RTGS is a high value transfer system, handling funds worth Rs 100,000 and above, while NEFT transfers smaller amounts below Rs 100,000.
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