IMPS offers an inter-bank electronic fund transfer service through mobile phones. Immediate Payment Service (IMPS) is an instant payment inter-bank electronic funds transfer system in India. Considering that the funds settlement takes place in the books of the Reserve Bank of India, the payments are final and irrevocable.
'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). The acronym 'RTGS' stands for Real Time Gross Settlement, which can be defined as the continuous (real-time) settlement of funds individually on an order by order basis (without netting). NEFT transactions are settled in batches. Under this Scheme, individuals can electronically transfer funds from SAMAYAPURAM, Karur Vysya Bank to any individual having an account with any other bank branch in the country participating in the Scheme.
NEFT - National Electronic Funds Transfer is a nation-wide payment system. Uses of IFSC Code NEFT - National Electronic Funds Transfer
0 kommentar(er)
