BANKING DAILY QUIZ ENGLISH FRESH VACANCY GK UPDATES IBPS CLERK IBPS PO INTERVIEW PREP RESULTS SAMPLE PAPERS SHORTCUTS SSC Banking Awareness: A summary on NEFT, RTGS & IMPS National Electronic Fund Transfer (NEFT) Meaning – It is way in which you can transfer fund from any bank account to any other bank account holder in India. NEFT is based on batch processing system. Minimum amount – Rs. 1 Maximum amount – There is no upper ceiling for transferring money through NEFT, but generally RTGS is used for transfer of Rs 2,00,000 or above Time limit – The transactions are processed in hourly batches. There are twelve settlements from 8 A.M. to 7 P.M. on the weekdays (Monday – Friday) and six settlements from 8 A.M. to 1 P.M. on Saturday. The maximum time consumed is 2 hours from the submitting of the transaction in a batch. Availability – NEFT is not available on the bank holidays, RBI holiday and Sunday. Note For transferring funds to Nepal, the limit is of Rs. 50, 000. Real Time Gross Settlement (RTGS) Meaning – It is way in which you can transfer fund from any bank account to any other bank account holder in India in real time. Minimum amount – Rs 2,00,000 Maximum amount – No limit Time limit – The transactions are processed on order basis i.e. Real time. The RTGS service is available from 8 A.M to 8 P.M. on the weekdays (Monday – Friday) and from 8 A.M. to 3:30 P.M. BANKERS ADDA IN HINDI GK Power Capsule Hindi GK Power Capsule English Call Letter Download PET Call Letter Download Syllabus & Exam Pattern Link Active Notification IBPS CLERK 2014 IBPS PO IV Written Test Scores IBPS PO IV Written Test Result Computer Capsule GK Power Capsule Hindi Version IBPS PO GK Power Capsule Syllabus and Pattern Notification FAQs IBPS PO 2014 36 45 46 55 56 65 66 75 76 85 Above 85 Vote Show results Votes so far: 868 Days left to vote: 370 HOW MUCH DID YOU SCORE IN IBPS PO 2015 PWD? Below 85 8590 HOW MUCH DID YOU SCORE IN THE WRITTEN EXAM OF IBPS PO 2014 GENERAL?
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BANKING DAILY QUIZ ENGLISH FRESH VACANCY GK UPDATES IBPS CLERK IBPS PO INTERVIEW PREP RESULTS SAMPLE PAPERS SHORTCUTS SSC
Banking Awareness: A summary on NEFT,RTGS & IMPSNational Electronic Fund Transfer (NEFT)
Meaning – It is way in which you can transfer fund from any bankaccount to any other bank account holder in India. NEFT is basedon batch processing system.
Minimum amount – Rs. 1
Maximum amount – There is no upper ceiling for transferringmoney through NEFT, but generally RTGS is used for transfer ofRs 2,00,000 or above
Time limit – The transactions are processed in hourly batches.There are twelve settlements from 8 A.M. to 7 P.M. on theweekdays (Monday – Friday) and six settlements from 8 A.M. to1 P.M. on Saturday. The maximum time consumed is 2 hoursfrom the submitting of the transaction in a batch.
Availability – NEFT is not available on the bank holidays, RBIholiday and Sunday.
Note For transferring funds to Nepal, the limit is of Rs. 50, 000.
Real Time Gross Settlement (RTGS)
Meaning – It is way in which you can transfer fund from any bankaccount to any other bank account holder in India in real time.
Minimum amount – Rs 2,00,000Maximum amount – No limit
Time limit – The transactions are processed on order basis i.e.Real time. The RTGS service is available from 8 A.M to 8 P.M.on the weekdays (Monday – Friday) and from 8 A.M. to 3:30 P.M.
BANKERS ADDA IN HINDI
GK Power Capsule Hindi
GK Power Capsule English
Call Letter Download
PET Call LetterDownload
Syllabus & ExamPattern
Link Active
Notification
IBPS CLERK 2014
IBPS PO IV WrittenTest Scores
IBPS PO IV WrittenTest Result
Computer Capsule
GK Power Capsule Hindi Version
IBPS PO GK PowerCapsule
Syllabus and Pattern
Notification FAQs
IBPS PO 2014
36 45
46 55
56 65
66 75
76 85
Above 85
Vote Show results
Votes so far: 868 Days left to vote: 370
HOW MUCH DID YOU SCORE INIBPS PO 2015 PWD?
Below 85
8590
HOW MUCH DID YOU SCORE INTHE WRITTEN EXAM OF IBPS PO2014 GENERAL?
Labels: A summary on NEFT, Banking, RTGS & IMPS, STUDY NOTES
Featured Comment
•
Madhu • a month ago
The significance of the name RTGS (Real Time GrossSettlement)'Real time' means payment transaction is not subjectedto any waiting period.Gross settlement means the transaction is settled onone to one basis without bunching with any othertransaction.RTGS is generally used for the transfer of large amountof money. Through NEFT you can transfer even arupee.IMPS is controlled by NPCI (Main job of NPCI is tomanage the retail payments system)
The significance of the name RTGS (Real Time GrossSettlement)'Real time' means payment transaction is not subjectedto any waiting period.Gross settlement means the transaction is settled onone to one basis without bunching with any othertransaction.RTGS is generally used for the transfer of large amountof money. Through NEFT you can transfer even arupee.IMPS is controlled by NPCI (Main job of NPCI is tomanage the retail payments system)
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• Reply •
Downey Jr • a month ago> Madhu
Other modes of money transfer
IMT Instant Money transferECS Electronic Clearing System
23△ ▽
• Reply •
Abhishek Gupta • a month ago
> Downey Jr
Ecs is for cheques.. Right??
What is IMT?? 14△ ▽
Downey Jr • a month ago
> Abhishek Gupta
Ἴ�
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Than q and one more thing friendwhat is minimum qualification incomputer .I don't read computer onesubject in degree.which certificateminimum requirement in po&clericallevel plz give suggestion&information
△ ▽
• Reply •
balamurugan.m • a month ago
> haribabu
PGDCA course ad benefit △ ▽
• Reply •
ARVIND KUMAR DANGI • a month ago
> Downey Jr
Electronic clearing services.not system
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• Reply •
NNJ • a month ago> Madhu
What is EFT? 2△ ▽
• Reply •
Anil • a month ago> NNJ
NEFT RTGS and other electroni roots offund transfer are parts of EFT(electronicfund transfer)
5△ ▽
• Reply •
thinkerMni • a month ago> NNJ
EFTS PRODUCTatm,CDs,PoS,..(interview capsule ref) ......these kind oftransaction occurs using EFTS
Electronic Funds Transfer (EFT) is asystem whereby anyone who wants tomake payment to another person/ companyetc. can approach his bank and make cashpayment or give instructions/ authorisationto transfer funds directly from his ownaccount to the bank account of thereceiver/ beneficiary. RBI is the serviceprovider for EFT. The electronic paymentsystems comprise large value paymentsystems as well as retail paymentmechanisms.
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• Reply •
The Eye Of Dark Lord Sauron • a month ago
> NNJ
EFT is limited to 15 centres in india..NEFTis the new form of EFT and most of thebanks have NEFT facility.
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• Reply •
pankaj • a month ago> The Eye Of Dark Lord
Sauron
15 centres means △ ▽
• Reply •
sumit jayswal • a month ago
> pankaj
Kya koi hame bata sakta hai ki rrbcrr rakhte hai ya nahe or agarrakhte hai to kis kw pasa
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• Reply •
anu • a month ago> pankaj
Thanks △ ▽
Richa manjhi • a month ago> NNJ
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There there no difference between EFT andNEFT in principle. The electronic fundstransfer process is generally called EFT. InIndia they just add the 'National'. So it'sNEFT in India.
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• Reply •
A@nchu • a month ago
> Guest
no dear....EFT is tranfer from 1 a/cto another in the same bank..plscorrect it
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• Reply •
great • a month ago> A@nchu
No you can transfer money onebank to another bank account throwNEFT
2△ ▽
• Reply •
A@nchu • a month ago> great
one bank a/c to different bank a/cthro NEFT,,,BUT one a/c to differenta/c in the same bank is calledEFT.....okk..
3△ ▽
Rahul • a month ago
> A@nchu
Electronic funds transfer (EFT) isthe electronic exchange, transfer ofmoney from one account to another,either within a single financialinstitution or across multipleinstitutions, through computer
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IBPS PO 2: RevisedAllocation and Cutoffs
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Less than 10
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More than 27
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HOW MUCH DID YOU ATTEMPTIN REASONING SECTION IN IBPSPO IV?
Less than 10
Between 1113
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More than 20
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HOW MUCH DID YOU ATTEMPTIN QUANT SECTION IN IBPS POIV?
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NEFT: इसमჰတ, बचै मჰတ डालन ेके बाद अᖫ卉धकतम 2 घटं ेकासमय लगता ह।ैRTGS: राᖫ危श का ᄠတथानतंरण तတတकाल होता ह ैᖫ䶩कတတत ुब⼁कको राᖫ危श जमा करन ेके ᖫ危लए दोघटं ेका समय लने ेकတတ अनमुჱत ह।ै
Ferk kya hai dono me? pese to 2 hour me hiaayenge dono me.
1△ ▽
• Reply •
Azio Auditore • a month ago> Madhu
in NET BANKING we can transfer money fromone account to another ( iin which we have to enterIFSC,ACC NO etc) ...So what kind of money transfer it is ..?RTGS ,NEFT or what ..?
△ ▽
Madhu • a month ago> Azio Auditore
It can be both. Banks generally set a upper
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HOW MUCH DID YOU ATTEMPTIN GENERAL AWARENESSSECTION IN IBPS PO IV?
Less than 14
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HOW MUCH DID YOU ATTEMPTIN COMPUTER SECTION IN IBPSPO IV?
It can be both. Banks generally set a upperlimit for transactions for retail banking andcorporate banking. Upper limit is differentfor different banks. If you go to SBI or ICICIbank's page for online banking, you cansee the detail and get a clear idea :)
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• Reply •
Azio Auditore • a month ago
> Madhu
Thanks.. △ ▽
• Reply •
OWEN SHAH • a month ago> Madhu
Does Bank Charge Any Money For NEFT &RTGS Funds Transfer
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• Reply •
Madhu • a month ago> OWEN SHAH
It does but very minimal. For example inRTGS inward transactions are free, foroutward transactions (25 lakh) 30 Rs. andabove 5 lakh, 55 rs. per transaction.
1△ ▽
• Reply •
Guest • a month ago> Madhu
Thank u △ ▽
• Reply •
Abhimanyu Gupta • a month ago
RTGS new guidelinesOn weekdays 8:00 am 8:00 pmOn Saturdays 8:00 am 3:30 pmMinimum time for settlement 30 minutes
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please guide for english howmaximise score/ wtat to solve and allthat
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