Canara Bank RTGS/NEFT From PDF

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Canara Bank RTGS/NEFT From

RTGS:- This is a system where the processing of funds transfer instructions takes place at the time they are received (real-time). Also, the settlement of funds transfer instructions occurs individually on an instruction by instruction basis (gross settlement). RTGS is the fastest possible interbank money transfer facility available through secure banking channels in India.

NEFT (national electronic funds transfer):- This system of fund transfer operates on a Deferred Net Settlement basis. Fund transfer transactions are settled in batches. Presently, NEFT operates in 48 Half hourly batches on 24X7 Basis WITHOUT HOLIDAYS for ONLINE BANKING AND 08:00 AM TO 19:00 FOR BRANCHES ON WORKING DAYS.

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