Real Time Gross Settlement System (RTGS)& National Electronic Fund Transfer system (NEFT)

Bank offers Real Time Gross Settlement System (RTGS) & National Electronic Fund Transfer system (NEFT) which enables an efficient, secure, economical and reliable system of transfer of funds from bank to bank as well as from remitters account in a particular bank to the beneficiarys account in another bank across the country.

1. RTGS:

An electronic payment system in which payment instructions between banks are processed and settled individually and continuously, on a real time basis, throughout the day. Available for transaction value of Rs.2.00 lacs and above.

2. NEFT :

Another electronic payment system in which payment instructions between banks are processed and settled on deferred net settlement (DNS) basis at fixed times during the day. There is no minimum or maximum stipulated transaction value for using this facility.

Note :RTGS and NEFT systems work on all days (24X7) across the states.

Information Required for transfer of Funds