NEFT (National Electronic Funds Transfer System)

Reserve Bank of India has introduced a system called National Electronic Funds Transfer System (NEFT) through which fund transfer operation would take place among member Banks and financial institutions. Our bank is one of the participants in the above system.

The objectives of the NEFT System are

To establish an Electronic Funds Transfer System to facilitate an efficient, Secure, economical, reliable and expeditious system of funds transfer and Clearing in the banking sector throughout India, and To relieve the stress on the existing paper based funds transfer and clearing system.

RTGS (Real Time Gross Settlement)

TRANSFER YOUR FUNDS ANYWHERE IN INDIA IN MINUTES (Selected Banks and Branches) Minimum amount per transaction Rs. Two Lacks There is no upper ceiling of RTGS transactions. The beneficiary bank credits the beneficiary’s account within tWO hour of receiving the funds message.