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
remitter’s account in a particular bank to the beneficiary’s
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.
