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February 9th, 2016, 07:27 AM
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Join Date: Mar 2012

Hi I would like to know the difference between RTGS and NEFT services offered by various banks for transfer of funds?

National Electronic Fund Transfer (NEFT) and Real Time Gross Settlement (RTGS) allow individuals, companies as well as firms to transfer funds from one bank to another.

Simply put, real time means that the beneficiary bank receives the instructions for fund transfer immediately and gross means that it is not bunched with any other transaction or settlements of funds transfer instructions happen individually.

Since the funds settlement takes place in the books of the Reserve Bank of India (RBI), keep in mind that the payments are full final and irrevocable.

NEFT facilitates one-to-one funds transfer. Likewise RTGS, Neft also transfers funds from one bank, but unlike RTGS the NEFT settlement takes place in batches (that may include transfers from various individuals) rather than individually. The batches would be settled in hourly time slots.

As mentioned, Neft operates in hourly batches. Currently, it has eleven settlements from 9am to 7pm on weekdays and 5 settlements from 9am to 1pm on Saturdays.

The provision window for RTGS at banks is available from 9am to 4.30pm on week days and from 9am to 1.30pm on Saturdays for settlement at the RBI end.


As far as Neft goes, it does not have a bare minimum limit of amount one can transfer. But the maximum amount per transaction is limited to Rs 50,000 for cash-based remittance and remittance to Nepal.

As far as RTGS service, it is mostly meant for large transactions. The bare minimum amount that can be remitted through it is Rs 2 lakh. RTGS does not have an higher ceiling for transactions.

Last edited by Neelurk; May 7th, 2020 at 11:43 AM.
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