Question
What is the difference between NEFT, RTGS, and IMPS?
Answer :
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Skip in 10
NEFT (National Electronic Funds Transfer), RTGS (Real-Time Gross Settlement), and IMPS (Immediate Payment Service) are all electronic payment systems in India, but they differ in terms of transaction speed, processing hours, and transaction limits.
NEFT is a payment system that facilitates one-to-one fund transfers between banks. It operates in batches, meaning transactions are processed in intervals throughout the day, typically every half hour. It is available 24/7, but settlements occur only during banking hours. There is no minimum or maximum
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