RTGS or Real-Time Gross Settlement
RTGS or Real-Time Gross Settlement is another electronic mode of payment that enables funds transfer from one bank account to another. In contrast to NEFT, RTGS settles transactions on a one-to-one basis immediately after the instruction is received.
National Electronic Funds Transfer
NEFT or National Electronic Funds Transfer is an electronic payment system regulated by the Reserve Bank of India (RBI) that allows funds to be transferred between bank accounts across the country, following RBI guidelines.
