Both the interfaces are generally used to encapsulate tasks that are needed to be executed by another thread. But there are some differences between them as given below:

Running Interface: This interface is basically available in Java right from the beginning. It is simply used to execute code on a concurrent thread.

Callable Interface: This interface is basically a new one that was introduced as a part of the concurrency package. It addresses the limitation of runnable interfaces along with some major changes like generics, enum, static imports, variable argument method, etc. It uses generics to define the return type of object.