NEFT settles transfers in half-hourly batches and runs round the clock. RTGS settles each transfer in real time and is meant for large payments, with a minimum of ₹2 lakh. IMPS sends money instantly at any time and is commonly used in mobile banking.
Finance glossary
What is NEFT, RTGS and IMPS?
India's bank-to-bank transfer systems: NEFT for most transfers, RTGS for large amounts and IMPS for instant transfers.