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India

What is NEFT, and how it differs from IMPS

NEFT, National Electronic Funds Transfer, is the Reserve Bank of India's interbank transfer system. It settles in half-hourly batches and has run around the clock since December 2019.

India

INR

Interbank transfer

How a payment moves

  1. You One API request
  2. NEFT IFSC code and account number
  3. Recipient Indian bank account
On DVBridge Payouts Live

Paying into it with DVBridge

  • Payouts · India Live
    What you send
    Account number and branch IFSC code
    Recipient name
    Required
    Delivery
    Under 5 minutes

Amount limits are configured for your account and returned by the API.

Batches, not a stream

IMPS settles each transfer on its own; NEFT collects them and settles in batches every half hour. Both reach accounts identified by an IFSC code.

What changes in the request

Nothing. The account number, the IFSC code and the recipient’s name address NEFT and IMPS alike. Which rail carries a transfer is decided on the corridor, not in your integration.

Questions and answers

  • Does a batch system make payouts slower?

    The corridor picks the rail; the delivery time shown above is the corridor's, whichever rail carries the transfer.

Name the markets. We bring the rails.

Which markets, which products, roughly what volume. We come back with terms, test keys and the documentation.

Name a market partners@dvbridge.com