Banking & savings
NEFT, RTGS and IMPS
Three bank transfer systems for moving money, differing in speed, timing, and amount limits.
IMPS is instant and works 24x7, good for smaller urgent transfers. NEFT settles in batches and is fine for routine transfers.
RTGS is for large amounts, usually ₹2L and above, and settles in real time.
With UPI now dominant for small payments, these matter mostly for larger transfers or where UPI limits fall short.
For example
Sending ₹10L for a home down payment usually goes via RTGS, while a quick ₹20,000 to family might use IMPS.