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What is NEFT and RTGS? Please mention the difference also?

NEFT and RTGS

NEFT and RTGS are inter-banking systems maintained by the Reserve Bank of India.
NEFT or National Electronic Funds Transfer is the inter-banking facility to transfer fund
from one institution to another institution within the country.NEFT is based on Deferred
Net settlement which means the amount is credited in hourly batches along with the
other payments. 
RTGS or Real Time Gross Settlement is the transfer of money from one bank to another
bank on a real-time or gross basis. The term 'Real-time' means that the payment is made
instantly without any delay. The gross settlement means the money is transferred on one
to one basis. It is the fastest mode of money transfer within different institutions.
Point of difference
NEFT
RTGS
Min transfer limit
No limit
2 Lakhs( Retail)
Max transfer limit
Nil
Nil
Settlement
In batches
Real time
Suitable for
Small money transfer
Large money transfer


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