There is three option to transfer funds from one bank account to another bank account. That three options are NEFT, RTGS and another one is IMPS.
NEFT- The full name of NEFT is National Electronic Fund Transfer. The process of NEFT is founded on 2005 to transfer funds from one person to another person to their bank account in electronic form. The money transfer made with NEFT takes more than 4 hours to transfer funds from one account to another account. And all the money transfer will be pending on non working hours and holidays. This process is only work on working hours.
RTGS- The full name of RTGS is Real Time Gross Settlement. The RTGS is also founded on 2005. The money can be transsfered instantly with RTGS on working hours and working days. The RTGS is created to transfer big amount of money to one person to another person. The money sent with RTGS will be also pending if money has been transsfered within non working hours and holidays.
IMPS- The full name of IMPS is Immediate Payment Service. The IMPS is founded on 2010. The payments that are made with IMPS is transfer instantly. This is working on 24 hours and 365 days a year. There is no holidays with IMPS.