Reserve Bank of India has introduced a system called National Electronic Funds Transfer System (NEFT) and Real Time Gross Settlement (RTGS) through which fund transfer operation would take place among member Banks and financial institutions (for List of Member bank follow the link below). Our bank is one of the participants in the above system.

Thus, we can say that both RTGS and NEFT are schemes started by RBI for the benefit of the customers which allow accounts holders in the banks to electronically transfer the funds intra-bank. In the case of RTGS, settlement in on ‘Real Time’ basis whereas in case of NEFT the settlement in on batch basis and net basis. There are some other rules, regulations and differences, which we will be discussing below:-

The Minimum and Maximum amount of remittance under RTGS and NEFT is:-

RTGS NEFT
Minimum Amount 2 Lacks No Minimum Limit
Maximum Amount No Upper Ceiling No Upper Ceiling
The Operating Hour of RTGS and NEFT:-


  • RTGS:

    The RTGS service window for customer’s transactions is available from 9.00 hours to 16.30 hours on week days and from 9.00 hours to 13.30 hours on Saturdays for real time settlement at the RBI end.

  • NEFT:

    Presently, NEFT operates in every hourly batches – there are twelve settlements from 8 am to 7 pm on week days (Monday through Friday) and six settlements from 8 am to 1 pm on Saturdays

IFSC Code of Our Bank

  • IBKL0443SCC

For Customer facilitation center for RTGS/NEFT participate banks

click here
Timings :-

10:00 am to 03:30 P.M. (Monday to Saturday), Second and Fourth Saturday Holiday

TIMINGS Weekdays
Cut Off Time: 10:00 AM to 16:00 PM
Settlement Timings: Each hour ending Between 08.00 AM to 19:00 PM

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