Wednesday, September 1, 2010

Difference between RTGS and NEFT

EFT and NEFT are electronic fund transfer modes that operate on a deferred net
settlement (DNS) basis which settles transactions in batches. In DNS, the settlement
takes place at a particular point of time. All transactions are held up till that time. For
example, NEFT settlement takes place 6 times a day during the week days (9.30 am,
10.30 am, 12.00 noon. 1.00 pm, 3.00 pm and 4.00 pm) and 3 times during Saturdays
(9.30 am, 10.30 am and 12.00 noon). Any transaction initiated after a designated
settlement time would have to wait till the next designated settlement time. Contrary
to this, in RTGS, transactions are processed continuously throughout the RTGS
business hours.

No comments:

Life = Thinking Headline Animator