1.

Distinguish in clear terms between NEFT and RTGS.

Answer»
N.E.F.TR.T.G.S
(i) By this provision a person, who wants to make payment to other person or company can contact his or her bank and ask it to transfer amount directly to the account of the specified person or company(i) By this, in order to transfer money from the account of any customer of any bank to another customer of any other bank, electronic.
(ii) By this, the  money is transfered to the account of the benificiary within two hours.(ii)This provides facility of immediate transfer cash from one account to another within different cities.
(iii) in this method of transfer, there is no limit minimum or maximum of the amount to be transfered.(iii) By this system, a minimum amount of 2 lack transferred on a real basis



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