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NEFT, RTGS, and IMPS are three popular electronic payment systems in India, each designed to transfer funds between bank accounts, but they differ in speed, settlement process, transaction limits, and availability. NEFT, which stands for National Electronic Funds Transfer, is a method of transferring money from one bank account to another on a deferred net settlement basis. In NEFT, transactions are accumulated and processed in batches at specific intervals throughout the day. This system is widely used for non-urgent transactions because the money transfer is not instantaneous, and the funds typically reflect in the beneficiary's account within a few hours or by the next working day, depending on the batch timing. NEFT does ____ ___ ____ ________ ___ ___.
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