Saturday, August 20, 2022

Trivia: Know what is the difference between NEFT, RTGS and IMPS transaction system?

What is the difference between NEFT, RTGS, and IMPS Transaction System: Today’s digital age has brought major changes in various fields. Today the banking system has completely changed after the revolution in the information age. Now people are easily sending money to anyone anywhere through net banking. However, while sending money through NetBanking, you have to choose between NEFT, IMPS, and RTGS transaction modes. Money is sent through net banking through these three transaction modes in the country. Do you know the difference between these three? If not, then today we are going to tell you about this. Today we will learn about National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), and Immediate Mobile Payment Service (IMPS) in detail.

You hardly know that NEFT and RTGS transaction system was introduced by the Reserve Bank of India. At the same time, IMPS was started by the National Payment Corporation of India.

National Electronic Funds Transfer (NEFT)
When sending money through the National Electronic Funds Transfer (NEFT) transaction mode, it takes about half an hour for the beneficiary’s account to get credited. This is because NEFT fund transfer batches are released every half an hour. In this, you can pay any amount as low as Re 1 and maximum. Its service hours are 8 AM to 7 PM on working days (except 2nd and 4th Saturdays).

Real Time Gross Settlement (RTGS)
The money you send through this transaction mode gets credited to the beneficiary’s account at the time you send it. Through this transaction mode, you can pay the minimum amount of 2 lakhs and a maximum amount. Its service hours are from 8 am to 6 pm on working days.

Read More: LIC Bumper Plan: You will have to invest once in this plan of LIC, you will get a pension of 12 thousand rupees every month.

Immediate Mobile Payment Service (IMPS)
Under the IMPS transaction system, you can send a minimum of Re 1 and a maximum of Rs 2 lakh. Money sent through IMPS reaches the beneficiary’s account at the same time it is sent. Its service time is 365 days 24*7.

🔥🔥 Join Our Group For All Information And Update, Also Follow me For Latest Information🔥🔥
🔥 YouTube                  Click Here
🔥 Facebook Page                  Click Here
🔥 Instagram                  Click Here
🔥 Telegram Channel                   Click Here
🔥 Google News                  Click Here
🔥 Twitter                  Click Here
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img
spot_img

Most Popular

spot_img

Latest

As soon as Boycott Tiger 3 became popular, Salman Khan travelled to Leh-Ladakh, shared the image, and his fans showered him with support.

Tiger 3 is Salman Khan's upcoming movie, and he recently shared a photo from Leh, Ladakh, which has been the subject of much discussion....

Indian travellers will be able to make payments using the BHIM app and India’s UPI will now work in Britain.

The dominance of Master and Visa on global payment systems will now face stiff competition from India's own UPI payment system. Soon, visitors from...

Sukanya Samriddhi Yojana: The government will raise interest rates as a lottery for people who invest in PPF and Sukanya Samriddhi Yojana.

Samriddhi Yojana for Sukanya Update: There is excellent news for you if you have investments in Sukanya Samriddhi Yojana or PPF. Actually, the government...

Senior citizens’ initiative: Shantanu Naidu’s concept to sponsor Goodfellows, which will help the elderly who are lonely, will be funded by Tata.

Ratan Tata, a seasoned industrialist, has made an investment in the firm Goodfellows to combat senior citizens' loneliness. The investment amount, however, has not...

Volvo bus maker company is bringing a beautiful car, deep potholes and rough roads will not be known

Car News Desk - Volvo Car India has started taking bookings for the upcoming XC40 SUV in the Indian market. In addition, the business...

Most Popular

Trivia: Know what is the difference between NEFT, RTGS and IMPS transaction system?

What is the difference between NEFT, RTGS, and IMPS Transaction System: Today’s digital age has brought major changes in various fields. Today the banking system has completely changed after the revolution in the information age. Now people are easily sending money to anyone anywhere through net banking. However, while sending money through NetBanking, you have to choose between NEFT, IMPS, and RTGS transaction modes. Money is sent through net banking through these three transaction modes in the country. Do you know the difference between these three? If not, then today we are going to tell you about this. Today we will learn about National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), and Immediate Mobile Payment Service (IMPS) in detail.

You hardly know that NEFT and RTGS transaction system was introduced by the Reserve Bank of India. At the same time, IMPS was started by the National Payment Corporation of India.

National Electronic Funds Transfer (NEFT)
When sending money through the National Electronic Funds Transfer (NEFT) transaction mode, it takes about half an hour for the beneficiary’s account to get credited. This is because NEFT fund transfer batches are released every half an hour. In this, you can pay any amount as low as Re 1 and maximum. Its service hours are 8 AM to 7 PM on working days (except 2nd and 4th Saturdays).

Real Time Gross Settlement (RTGS)
The money you send through this transaction mode gets credited to the beneficiary’s account at the time you send it. Through this transaction mode, you can pay the minimum amount of 2 lakhs and a maximum amount. Its service hours are from 8 am to 6 pm on working days.

Read More: LIC Bumper Plan: You will have to invest once in this plan of LIC, you will get a pension of 12 thousand rupees every month.

Immediate Mobile Payment Service (IMPS)
Under the IMPS transaction system, you can send a minimum of Re 1 and a maximum of Rs 2 lakh. Money sent through IMPS reaches the beneficiary’s account at the same time it is sent. Its service time is 365 days 24*7.

🔥🔥 Join Our Group For All Information And Update, Also Follow me For Latest Information🔥🔥
🔥 YouTube                  Click Here
🔥 Facebook Page                  Click Here
🔥 Instagram                  Click Here
🔥 Telegram Channel                   Click Here
🔥 Google News                  Click Here
🔥 Twitter                  Click Here
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Most Popular

spot_img

Latest

As soon as Boycott Tiger 3 became popular, Salman Khan travelled to Leh-Ladakh, shared the image, and his fans showered him with support.

Tiger 3 is Salman Khan's upcoming movie, and he recently shared a photo from Leh, Ladakh, which has been the subject of much discussion....

Indian travellers will be able to make payments using the BHIM app and India’s UPI will now work in Britain.

The dominance of Master and Visa on global payment systems will now face stiff competition from India's own UPI payment system. Soon, visitors from...

Sukanya Samriddhi Yojana: The government will raise interest rates as a lottery for people who invest in PPF and Sukanya Samriddhi Yojana.

Samriddhi Yojana for Sukanya Update: There is excellent news for you if you have investments in Sukanya Samriddhi Yojana or PPF. Actually, the government...

Senior citizens’ initiative: Shantanu Naidu’s concept to sponsor Goodfellows, which will help the elderly who are lonely, will be funded by Tata.

Ratan Tata, a seasoned industrialist, has made an investment in the firm Goodfellows to combat senior citizens' loneliness. The investment amount, however, has not...

Volvo bus maker company is bringing a beautiful car, deep potholes and rough roads will not be known

Car News Desk - Volvo Car India has started taking bookings for the upcoming XC40 SUV in the Indian market. In addition, the business...

Most Popular

Subscribe

* indicates required