PNB RTGS/NEFT Form PDF

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PNB RTGS/NEFT Form

Real-Time Gross Settlements (RTGS)

The acronym `RTGS` stands for Real-Time Gross Settlement, which can be defined as the continuous (real-time) settlement of funds transfers individually on an order by order basis (without netting). `Real Time` means the processing of instructions at the time they are received rather than at some later time; `Gross Settlement` means the settlement of funds transfer instructions occurs individually (on an instruction by instruction basis). Considering that the funds’ settlement takes place in the books of the Reserve Bank of India, the payments are final and irrevocable.

Information Required For Transfer Of Funds

  • Amount to be remitted
  • Account no. to be debited
  • Name of the beneficiary bank
  • Name of the beneficiary customer
  • Account no. of the beneficiary customer
  • Sender to receiver information, if any

Time Schedule: (Change In RTGS Timing Wef. 26.08.2019, Change In NEFT Timing Wef. December 16, 2019)

Service Type Remittance Type Start Time End Time
Retail Internet Banking NEFT 24*7 24*7
RTGS 7:00 a.m. 6:00 p.m.
Mobile Banking NEFT 24*7 24*7
Corporate Internet Banking NEFT 24*7 24*7
RTGS 7:00 a.m. 6:00 p.m.
Branch (Within Working Hours) NEFT Within Working Hours Within Working Hours
RTGS 7:00 a.m. 6:00 p.m.

Is There Any Minimum / Maximum Amount Stipulation For Rtgs Transactions?

The Minimum And Maximum Amount For RTGS Transactions

Minimum Maximum
Rs 2 lacs No limit

 

National Electronic Funds Transfer (NEFT)

NEFT is an application developed by RBI to facilitate customers to transfer funds from one bank account to another bank account in India. It is an efficient, secure, economical, reliable, and expeditious system of funds transfer between banks. There is no minimum or maximum limit for remittance through NEFT.

Service Charges For NATIONAL ELECTRONIC FUNDS TRANSFER (NEFT) Are As Follows

Charges Applicable W.E.F. 01-04-2020

Payment System Revised Charges
NATIONAL ELECTRONIC FUNDS TRANSFER (NEFT)
Inward Transactions Free
Outward Transactions
Transaction Value From Branch From IBS/ MBS
Upto Rs.10000/- Rs.2.00 NIL
Above Rs.10000/- to 100000/- Rs.4.00
Above Rs.100000/- to 200000/- Rs.14.00
Above Rs.200000/- Rs.24.00

Note: RTGS systems work on all days except on Sundays & holidays (declared by RBI). However, NEFT will be available 24*7

Information Required For Transfer Of Funds

  • Amount to be remitted
  • Account no. to be debited
  • Name of the beneficiary bank
  • Name of the beneficiary customer
  • Account no. of the beneficiary customer
  • Sender to receiver information, if any
  • IFSC code of the receiving branch.(IFSC Code is printed on cheque leaves.)

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