FYI, in India NEFT (http://en.wikipedia.org/wiki/NEFT#National_electronic_fund_t...) and RTGS (real-time gross settlement) offers instant free* fund transfers and all large and most small banks are members.

I wish them luck, but Dwolla probably doesn't realize that banking systems change only by Government & regulatory mandates. The amount of money that flows through the system and regulations are not trivial.