With this method, funds transfer instructions are processed in real time, right after they are received. Additionally, each instruction by instruction is settled separately for the purpose of transferring payments (gross settlement). The quickest interbank money transfer service accessible in India through safe banking channels is called Real-Time Gross Settlement (RTGS)..
On the basis of Deferred Net Settlement, this fund transfer system functions. Unlike RTGS, which settles each individual transaction continuously, fund transfer operations are handled in batches. At the moment, NEFT runs in half-hourly batches. Every day, 48 half-hourly batches will be produced.