RTGS/NEFT facilities are available through Smart Banking portal of BMB.

Inter Bank Transfer enables electronic transfer of funds from the account of the remitter in one Bank to the account of the beneficiary maintained with any other Bank branch. There are two systems of Inter Bank Transfer - RTGS and NEFT. Both these systems are maintained by Reserve Bank of India.

RTGS- Real Time Gross Settlement- This is a system where the processing of funds transfer instructions takes place at the time they are received (real time). Also the settlement of funds transfer instructions occurs individually on an instruction by instruction basis (gross settlement). RTGS is the fastest possible interbank money transfer facility available through secure banking channels in India.

NEFT- National Electronic Fund Transfer-This system of fund transfer operates on a Deferred Net Settlement basis. Fund transfer transactions are settled in batches as opposed to the continuous, individual settlement in RTGS.
Presently, NEFT operates in hourly batches from 8 am to 7 pm except RBI’s holidays.

Maximum/Minimum amount for RTGS/NEFT transactions 

Type Minimum Maximum  
RTGS Rs.2 Lakhs No Limit  
NEFT No Minimum No Limit  

RTGS Beneficiary Credit : Under normal circumstances the beneficiary Bank branch receives the funds in real time as soon as funds are transferred by the remitting Bank. The beneficiary Bank has to credit the beneficiary's account within two hours of receiving the funds transfer message.

NEFT Beneficiary Credit : NEFT operates in hourly batches from 8 am to 7 pm except RBI’s holidays. Credit will be afforded on the same day within 2 batches or on the next working day.

For effecting an RTGS/NEFT remittance the remitter has to furnish the following information:

  • Amount to be remitted.
  • Remitting customer's account number which is to be debited
  • Name of the beneficiary bank.
  • Name of the beneficiary.
  • Account number of the beneficiary.
  • Sender to receiver information, if any
  • IFSC code of the destination bank branch

The list of RTGS/NEFT enabled branches can be obtained from the RBI website, http://rbidocs.rbi.org.in/rdocs/RTGS/DOCs/RTGEB1110.xls for RTGS and http://www.rbi.org.in/scripts/neft.aspx for NEFT.


Customer Facilitation Centre

(for queries/complaints regarding NEFT transaction)

Landline No.- 022-61906908 / 61906904

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