Hello Peeps,
Recently, I've come across one of the batch processing in our real life. Just with the practical example, we should be able to understand anything easily. So, I just wanted to hop on here and post it.
We all regularly use netbanking/mobile banking, and this has many different types of a transaction according to user's need in India. The money would be transferred in a real-time basis in RTGS (Real Time Gross Settlement) & IMPS (Immediate Payment Service) modes. This is the reason, we receive money in a fraction of a second in the recipient's account.
The other one is NEFT (National Electronic Funds Transfer) which operates in hourly batches. Now that you might wonder why it always takes 30 minutes to 1 hour minimum for the amount to be credited.
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