Real Time Gross Settlement System (RTGS)& National Electronic Fund Transfer system (NEFT)
Bank offers Real Time Gross Settlement System (RTGS) & National Electronic Fund Transfer system (NEFT) which enables an efficient, secure, economical and reliable system of transfer of funds from bank to bank as well as from remitterÂs account in a particular bank to the beneficiaryÂs account in another bank across the country.
1. RTGS:
An electronic payment system in which payment instructions between banks are processed and settled individually and continuously, on a real time basis, throughout the day. Available for transaction value of Rs.2.00 lacs and above.
2. NEFT :
Another electronic payment system in which payment instructions between banks are processed and settled on deferred net settlement (DNS) basis at fixed times during the day. There is no minimum or maximum stipulated transaction value for using this facility.
Note :RTGS and NEFT systems work on all days (24X7) across the states.
Information Required for transfer of Funds
- Amount to be remitted
- Account no. to be debited
- Name of the beneficiary bank
- Name of the beneficiary customer
- Account no. of the beneficiary customer
- Sender to receiver information, if any
- IFSC code of the receiving branch.(IFSC Code is printed on cheque leaves.)
These facilities are available at all our Core Banking branches .For further details, please contact our nearest branch
