NEFT
National Electronic Funds Transfer (NEFT) is a payment system that facilitates one-to-one funds transfer. Using NEFT, people can electronically transfer money from any bank branch to a person holding an account with any other bank branch, which is participating in the payment system. The NEFT transactions can be carried out in bulk and repetitively.
RTGS
Real Time Gross Settlement (RTGS) is another payment system in which the money is credited in the beneficiary’s account in real time. This fund transfer method is typically used to transfer enormous sum of money.
