This tranfer mode is one of the most used electronic funds transfer systems of India. This payment mode was started in Nov.-2005. This fund transfer facility is executed in hourly basis which resulting some time lag. NEFT facilities using ifsc code is available in 30,000 bank branches accross india along with STATE BANK OF MAURITIUS LIMITED and it always work in batch scheduled mode.
Real-time gross settlement systems (RTGS) is a specialist funds transfer process where money transfer A bank to B bank in real time mode. This means the process will be completed in real time without any waiting time.
Immediate Payment Service (IMPS) one of the most used electronic funds transfer systems of mobile users in India. This service started in Nov 2010.
This fund transfer mode provides for a centralised viewing of balance of any account holder which can have different account maintained at various banks.