Bank Account

IMPS/NEFT/RTGS/NACH/ECS

IMPS, NEFT, and RTGS are India’s three core bank-to-bank transfer systems for one-off payments, each suited to different combinations of amount and urgency. IMPS (NPCI-operated) is instant and available 24x7 up to ₹5 lakh, though some banks have begun charging for online IMPS above ₹25,000 since early 2026 — worth checking your bank’s current fee schedule. NEFT (RBI-managed, 24x7 since December 2019) processes in half-hourly batches with no maximum limit and is generally free online. RTGS (RBI-managed, 24x7 since December 2020) settles individually in real time, with a ₹2 lakh minimum and no maximum, also generally free online. For recurring/bulk transactions — salaries, EMIs, SIPs, subsidies — NACH (NPCI) is the modern unified platform, having largely replaced the older, regionally-fragmented ECS system; old “ECS mandates” generally now operate via NACH, though paperwork sometimes lags the underlying migration. This guide provides a clear decision framework for choosing between IMPS, NEFT, and RTGS, and explains how NACH Credit and Debit (including e-mandates) keep recurring payments running automatically.