RTGS/NEFT

REAL TIME GROSS SETTLEMENTS (RTGS) / NATIONAL ELECTRONIC FUNDS TRANSFER (NEFT)

REAL TIME GROSS SETTLEMENTS (RTGS)

An RTGS payment system is one in which payment instructions between banks are processed and settled individually on real time basis.This is an efficient, secure, economical and reliable system of funds transfer between banks.

All our branches are RTGS enabled.

The remitting customer has to furnish the following information to a bank for initiating a RTGS remittance:
  1. Amount to be remitted
  2. Remitting customer’s account number which is to be debited
  3. Name of the beneficiary bank and branch
  4. The IFSC Number of the receiving branch
  5. Name of the beneficiary customer
  6. Account number of the beneficiary customer
  7. Sender to receiver information, if any

   NATIONAL ELECTRONIC FUNDS TRANSFER (NEFT)

 NEFT is an application developed by RBI to facilitate customers to transfer funds from one bank account to another bank account in India. It is an efficient, secure, economical, reliable and expeditious system of funds transfer betweenbanks. There is no minimum or maximum limit for remittance through NEFT.

 Information Required for transfer of Funds

1. Amount to be remitted
2. Account no. to be debited
3. Name of the beneficiary bank
4. Name of the beneficiary customer
5. Account no. of the beneficiary customer
6. Sender to receiver information, if any
7. IFSC code of the receiving branch.(IFSC Code is printed on cheque leaves.)
 

Minimum / Maximum amount for RTGS /NEFT transactions

Type

Minimum

Maximum

RTGS

Rs. 2 Lakh

No Limit

NEFT

No Limit

Rs.2 lakh

 These facilities are available at all our branches. For further details, please contact our nearest branch.