NEFT

Get bank account number and IFSC code, transfer the amount it will get credited  in bulk on  hourly basis by RBI. This need a valid bank account number, need to have net-banking enabled and more importantly both the parties should have bank account number.

IMPS 

This same as NEFT only thing amount get credited to the beneficiary account instantly. IMPS can only be done between two bank accounts which is must. You can transfer using IMPS using ifsc code and account number or you can transfer if you know the unique MMID and mobile number of beneficiary.

• UPI is a payment system that allows money transfer between any two bank accounts by using a smartphone.

• UPI allows a customer to pay directly from a bank account to different merchants, both online and offline, without the hassle of typing credit card details, IFSC code, or net banking/wallet passwords.

• It is safe as the customers only share a virtual address and provide no other sensitive information.

• The per transaction limit is Rs.1 lakh.

UPI

• The UPI app of 19 banks -- Andhra Bank, Axis Bank, Bank of Maharashtra, Bhartiya Mahila Bank, Canara Bank, Catholic Syrian Bank, DCB Bank, Federal Bank, ICICI Bank, TJSB Sahakari Bank, Oriental Bank of Commerce, Karnataka Bank, UCO Bank, Union Bank of India, United Bank of India, Punjab National Bank, South Indian Bank, Vijaya Bank and YES Bank -- will be available on the Google Play Store of Android phones in the next few days for customers to download.

Where to Download UPI App