Exercises · Q8
Q.Distinguish between NEFT, RTGS and UPI.
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Start your 14-day free trial to unlock the full solution →| Basis | NEFT | RTGS | UPI |
|---|---|---|---|
| Meaning | National Electronic Funds Transfer | Real Time Gross Settlement | Unified Payments Interface |
| Settlement | Processed in periodic batches through the day | Settled individually and continuously in real time | Instant, individual settlement |
| Typical use | Transfers of any size | Large-value transfers, generally above a set minimum amount | Everyday transfers of any size, especially small/retail payments |
| Information needed | Beneficiary account number and bank branch code | Beneficiary account number and bank branch code | Just a mobile number or a payment address (no need to share full account details each time) |
| Speed | Not instantaneous — waits for the next settlement batch | Instantaneous, one transaction at a time | Instantaneous |
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