Definition
IMPS, NEFT, and RTGS are electronic banking systems used for domestic money transfers across bank accounts in India.
How this works
Each system follows different processing rules such as real time settlement, batch transfer, or high value clearing.
Benefits
• Multiple transfer options
• Support for consumer and business payments
• Secure bank to bank movement
FAQs
Is IMPS available instantly?
Yes. IMPS offers instant transfers.
Does NEFT work in batches?
Yes. NEFT processes transactions in scheduled cycles.
Is RTGS used for high value transfers?
Yes. RTGS is designed for large transactions.
Do all banks support all three modes?
Most banks support IMPS, NEFT, and RTGS.