FinTech Beginner

NEFT / RTGS

💡 In plain English: India's bank transfer systems — NEFT settles in batches, RTGS is instant for large amounts (₹2L+).

Definition

NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) are RBI-managed bank transfer systems for domestic payments.

📌 Real-World Example

Transferring ₹50L for property purchase: use RTGS for same-day settlement. Paying a contractor ₹30,000: NEFT arrives within 2 hours. UPI is preferred for under ₹2L.

Related Terms

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