RTGS & NEFT
“RTGS" stands for Real-Time Gross Settlement. RTGS System is a fund transfer mechanism, where the transfer of money takes place from one bank to another. Customers can transfer amounts from their account to anybody’s bank account in other RTGS enabled banks to branch anywhere in India.
RTGS transaction involve large amount of cash, basically only funds above Rs 2,00,000 may be transferred using this system .For NEFT, any amount below Rs. 2,00,000 may be transferred.