Hello Friends,
If you ever transfer funds from one bank to another any bank then the bank can tell to you many ways either it will be IMPS or UPI or NPCI but wait,you have ever thought that if your fund is transferred
from one bank to another,it means that if you transfer funds from your SBI Bank to ICICI Bank,then it will be visible in your digital form.will show less in the bank,show more in another's bank,but how does it happen in physically form.
this means that all the funds transferred from SBI ti ICICI bank during the entire day will be transferred to ICICI Bank by a truck from SBI Bank at night.
So Let's Come on Friends ,I tell you How the fund transfer would be in Physical form one bank to another bank.
So first of all,We understand this,why the digital forms of fund transfer are all different.
The IMPS is one way RTGS because it was operational since 2007 and it transfers funds in real time,how much funds can anyone transfer in real time and above this there is no dependency of bank holiday.
This RTGS bank has not created it, NPCI ( National Payments Corporation of India) has made it.It's sitting in an umbrella in a way that makes the whole bank come under it.
NPCI said to all the banker's all of you could do as much as you did.Now why do not you open your server and connect all your bank's to each other and let the IMPS above 2007 and if there is any further problem then my team is sitting,that will trigger that problem by the help of 2007 of trick's.This IMPS was launched in 2010,
So that all these banks had come to trust their system that you can transfer of real funds of any amount to people who are in the post-2007.
One thing to note about here is whether you take an IMPS or take an RTGS or take NEFT .this is all a beneficiary.
First of all, you have to enter the mobile number.after the process of 3 to 4 Hours,the number is activated after that funds can be transferred.you are waiting because if your account is hacked and add another account in you account and withdraw all money from your account or transfer your all money in other account and its happened that then you have to come a lot of notifications and don't transfer of your funds within 12 hours.
it never happens manually this waiting time has been created so that your account can be prevented from hacking and the last update of all of this is till 2010.
It's sitting above the IMPS because it doesn't need anybody's bank account,n need of IFSC code and none of the mobile number of anyone.
This is an ID for this ID can connect to your bank and anytime you can transferred the funds by this ID because this ID transfer funds in real time.
NPCI manages all these and it has all the rights to do the transaction of IMPS.
this made the IMPS very enhance and gave the opportunity to the all developers.and after that there was come a lot of documentation of the UPI and then google and whats'app started be added from your account and transferred the funds from your account by one side to other side.
first you used the apps of banks and the net banking but now you don't have to use them because google and face-book now have this authority.
Now the question comes about how money transfers into physical form from one bank t another bank.
Many banks run here such as SBI, HDFC, ICICI and many banks and the boss of all these bank is RBI Bank.this means that all these banks have an account in RBI Bank.whatever we give to money of these banks,it is given to the RBI and RBI runs the currency and gives them money back RBI means (Reserve bank of India) and all the banks come under the RBI .
Just like we transfer money from 1 wallet to anther wallet of paytm,but the money remains in paytm,in the same way when we transfer money in banks,then all the money is stored in the RBI.because all these accounts are in RBI Bank.the whole thing is that if it gives money to the RBI,then RBI has money,that means money has changed in the digital form.
when SBI will go to RBI,how much money will the RBI give to SBI after taking money because that money has been transferred to the ICICI bank from the RBI and that money has turned into a digital form.
All the money that SBI and HDFC and ICICI bank have kept,all the money that they have been deducted is kept in the RBI Bank.and whenever a bank wants money,then they accept money from the local branch of RBI because RBI is an Intermediator ,among all the banks.
the RBI manages all these things.because their money is kept in the RBI and they get this money from the RBI in physical form.and if we go to deposit the real amount of money in our bank,then the bank keeps it with us and we make it into a digital form and tell how much money is in your account.if anyone wants to take money,then he will give the same money to him.and if there is more money, then it will be deposited in the RBI. either banks invest in different ways at different places.
So it is such that all the money we are giving will stand out of that branch and i will say that if the money i have deposited is to return my money,then the branch can not refund that money.because all those money was invested by the bankers.that's why they give lure to all people that you keep money for 1 year.you will get so much interest so that you will get savings.that means do not take money from them,keep them so that the money s to give someone in a loan,
So that money can earn the interest or not anywhere in which they could get money to them.so now-a-days digital things are being promoted more so that we do not pay attention to our real hard currency,whatever we work in it will be done in digital form.and if we digitize,then money will be invested only digital will be there from here.
Together the tight thing is that we have given all the features to RTGS and IMPS and NEFT etc.we have to transfer the money from one place to another place is what behind us what is going on .
Hello Guys, If you like this post, So kindly comment below on post and do share your response. (Thanks For Reading: )
If you ever transfer funds from one bank to another any bank then the bank can tell to you many ways either it will be IMPS or UPI or NPCI but wait,you have ever thought that if your fund is transferred
from one bank to another,it means that if you transfer funds from your SBI Bank to ICICI Bank,then it will be visible in your digital form.will show less in the bank,show more in another's bank,but how does it happen in physically form.
this means that all the funds transferred from SBI ti ICICI bank during the entire day will be transferred to ICICI Bank by a truck from SBI Bank at night.
So Let's Come on Friends ,I tell you How the fund transfer would be in Physical form one bank to another bank.
So first of all,We understand this,why the digital forms of fund transfer are all different.
1. IMPS ( Immediate Payment Service) :-
This RTGS bank has not created it, NPCI ( National Payments Corporation of India) has made it.It's sitting in an umbrella in a way that makes the whole bank come under it.
So that all these banks had come to trust their system that you can transfer of real funds of any amount to people who are in the post-2007.
One thing to note about here is whether you take an IMPS or take an RTGS or take NEFT .this is all a beneficiary.
First of all, you have to enter the mobile number.after the process of 3 to 4 Hours,the number is activated after that funds can be transferred.you are waiting because if your account is hacked and add another account in you account and withdraw all money from your account or transfer your all money in other account and its happened that then you have to come a lot of notifications and don't transfer of your funds within 12 hours.
it never happens manually this waiting time has been created so that your account can be prevented from hacking and the last update of all of this is till 2010.
2. UPI (Unified payments interface):-
This is an ID for this ID can connect to your bank and anytime you can transferred the funds by this ID because this ID transfer funds in real time.
NPCI manages all these and it has all the rights to do the transaction of IMPS.
this made the IMPS very enhance and gave the opportunity to the all developers.and after that there was come a lot of documentation of the UPI and then google and whats'app started be added from your account and transferred the funds from your account by one side to other side.
first you used the apps of banks and the net banking but now you don't have to use them because google and face-book now have this authority.
Now the question comes about how money transfers into physical form from one bank t another bank.
Many banks run here such as SBI, HDFC, ICICI and many banks and the boss of all these bank is RBI Bank.this means that all these banks have an account in RBI Bank.whatever we give to money of these banks,it is given to the RBI and RBI runs the currency and gives them money back RBI means (Reserve bank of India) and all the banks come under the RBI .
when SBI will go to RBI,how much money will the RBI give to SBI after taking money because that money has been transferred to the ICICI bank from the RBI and that money has turned into a digital form.
All the money that SBI and HDFC and ICICI bank have kept,all the money that they have been deducted is kept in the RBI Bank.and whenever a bank wants money,then they accept money from the local branch of RBI because RBI is an Intermediator ,among all the banks.
the RBI manages all these things.because their money is kept in the RBI and they get this money from the RBI in physical form.and if we go to deposit the real amount of money in our bank,then the bank keeps it with us and we make it into a digital form and tell how much money is in your account.if anyone wants to take money,then he will give the same money to him.and if there is more money, then it will be deposited in the RBI. either banks invest in different ways at different places.
So it is such that all the money we are giving will stand out of that branch and i will say that if the money i have deposited is to return my money,then the branch can not refund that money.because all those money was invested by the bankers.that's why they give lure to all people that you keep money for 1 year.you will get so much interest so that you will get savings.that means do not take money from them,keep them so that the money s to give someone in a loan,
So that money can earn the interest or not anywhere in which they could get money to them.so now-a-days digital things are being promoted more so that we do not pay attention to our real hard currency,whatever we work in it will be done in digital form.and if we digitize,then money will be invested only digital will be there from here.
Together the tight thing is that we have given all the features to RTGS and IMPS and NEFT etc.we have to transfer the money from one place to another place is what behind us what is going on .
Hello Guys, If you like this post, So kindly comment below on post and do share your response. (Thanks For Reading: )
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