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NEFT, RTGS and IMPS
NEFT settles transfers in half-hourly batches, any amount, around the clock. RTGS moves large sums, ₹2 lakh and above, in real time. IMPS sends money instantly at any hour and powers many app transfers. UPI was later built on top of the IMPS rails.
Why It Matters
Knowing which is which explains why some transfers land instantly and others take a while.
In India
A company paying salaries typically uses NEFT; a property buyer paying a large sum uses RTGS; a friend splitting a bill uses UPI.
Related Terms