What is RTGS, NEFT,imps ? | What is difference between RTGS, NEFT,imps ?

RTGS, NEFT, and IMPS are all electronic funds transfer (EFT) systems used in India to transfer money from one bank account to another.

RTGS (Real-Time Gross Settlement) is a system that allows for the instantaneous transfer of funds between banks. It is typically used for large value transactions (generally above 2 lakh rupees).

NEFT (National Electronic Funds Transfer) is a system that allows for the transfer of funds between banks on a batch basis, rather than in real-time. Transactions using NEFT are typically processed in hourly batches.

IMPS (Immediate Payment Service) is a real-time electronic funds transfer service that allows for instant transfer of funds between banks.

Here is a comparison table between RTGS, NEFT, and IMPS:

Feature	RTGS	NEFT	IMPS
Transfer Speed	Real-time	Hourly batches	Instant
Minimum Amount	2 Lakh Rupees	No minimum	No minimum
Timings	Available throughout the day	Available throughout the day	Available 24x7
Fees	Higher	Lower	Variable

In conclusion, RTGS is best suited for large value transactions, NEFT is best suited for small-medium value transactions and IMPS is best suited for instant transfer of funds.