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What is Important Banking Terms Explained about?

This document discusses several important banking terms: 1. NEFT stands for National Electronic Fund Transfer and allows funds transfer through electronic batches with a maximum limit of Rs. 50,000 per transaction. 2. RTGS stands for Real Time Gross Settlement and allows real-time funds transfers with no upper limit but a minimum of Rs. 2 lakhs. 3. IMPS stands for Immediate Payment Service and allows instant funds transfers 24/7 through mobile banking. 4. IFSC, MICR, and SWIFT codes are all used to un

Author

Revathi Prabhakar

Language

EN