Difference between NEFT and RTGS

What is the difference between RTGS and NEFT????? Please give me iformation on same???

NEFT - National Electronic Funds Transfer is an online system for transferring funds from one financial institution to another within India

RTGS - Real Time Gross Settlement. RTGS is a funds transfer system where money is moved from one bank to another in ‘real-time’, and on gross basis.

Difference between RTGS and NEFT ----
-RTGS completes transactions in real-time, and is therefore faster than NEFT, which completes transactions in cycles.
-RTGS is Real Time Gross Settlement, while NEFT is National Electronic Funds Transfer.
-RTGS is a high value transfer system, handling funds worth Rs 100,000 and above, while NEFT transfers smaller amounts below Rs 100,000.
-RTGS is gross settlement, where a transfer is completed on a one-to-one basis, while NEFT is on a Deferred Net Basis, where transfers are bundled and deferred for a specific time.

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Answered By StudyChaCha Member

Thank You Very Much

Rgds,
Santosh Kaushik
Saraidewa, Bhathar
Jaunpur U.P.