RTGS AND EFT
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 March 2010
DEAR ,
WHAT IS RTGS? AND WHAT IS DIFFERENCE BETWEEN E.F.T. AND R.T.G.S.?
WHAT IS RTGS? AND WHAT IS DIFFERENCE BETWEEN E.F.T. AND R.T.G.S.?
Rahul Gupta
(Expert)
11 March 2010
My knowledge says..
RTGS means Real Time Gross settlement > As the name suggests it involves quick settlement between the entities attached with them.
EFT stands for Electronic Funds Transfer in which the client places the instruction for tranfer takes time to clear and so is slower than RTGS.
Experts views are solicited...
RTGS means Real Time Gross settlement > As the name suggests it involves quick settlement between the entities attached with them.
EFT stands for Electronic Funds Transfer in which the client places the instruction for tranfer takes time to clear and so is slower than RTGS.
Experts views are solicited...
CMA Ramesh Krishnan
(Expert)
14 March 2010
Both are means of electronically transferring funds from one account to another.
NEFT - National Electronic Funds Transfer
RTGS - Real Time Gross Settlement
RTGS transactions are settled in real-time with very small waiting period. The funds transfer takes place within two hours of request.
NEFT transactions take place on a batch basis. Customers are given a window between which requests for transfers may be made. At the end of the window period, the transactions are processed.
NEFT - National Electronic Funds Transfer
RTGS - Real Time Gross Settlement
RTGS transactions are settled in real-time with very small waiting period. The funds transfer takes place within two hours of request.
NEFT transactions take place on a batch basis. Customers are given a window between which requests for transfers may be made. At the end of the window period, the transactions are processed.
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