1. Real Time Gross Settlement (R.T.G.S.) : It is such a system through which an electronic direction is given to transfer cash from an account of any person of any bank to the account of any person (Customer) of any bank. By the use of this technology, there is a facility to immediately transfer cash from one account to another in different cities. In this context, an amount of minimum ? 2 lakhs can be transferred immediately.
2. National Electronic Funds Transfer (NEFT) : It is such a system through which if any person wants to make payment to another person or a company, (then) he/she can approach his/her bank branch and asks it to transfer the amount from his/her account to the account of the recipient (beneficiary) directly. By this, the ordered amount in transferred to the account of the beneficiary within 2 hrs. By this methodology, there is no minimum or maximum limits of the money being transferred.
3. Mobile Banking : The process/technology to perform or utilize certain banking related activities, such as inquiry of account balance, transfer of money, payment of bills etc. with the use of a mobile net (phone) is called mobile banking. A customer can get his facility by way of registration with the bank.
4. Internet Banking : By this technology, people (customers) can utilize banking, activities from any place at any time, without visiting his bank branch. With the use of inter¬net banking on-line enquiry on the account balance, payment of bills etc. can be done.
