NEFT vs IMPS: A Comparative Guide to Choosing Your Ideal Payment Option
In the realm of digital payments, NEFT (National Electronic Funds Transfer) and IMPS (Immediate Payment Service) are two crucial options that serve different needs within the public financial management system. NEFT is designed for batch processing and is typically utilized for large-scale transactions that are not time-sensitive. Payments made through NEFT are settled in half-hourly batches, which means they might take several hours to reflect in the beneficiary's account. This method is ideal for businesses that manage transactions during regular banking hours without the need for immediacy.
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