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NEFT – 24x7 basis
December 19 , 2019
1835 days
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- RBI has extended the availability of National Electronic Funds Transfer (NEFT) round-the-clock on all the seven days of the week - 24×7 basis to facilitate beyond the banking hour fund transfer.
- NEFT is an electronic funds transfer system maintained by the Reserve Bank of India (RBI).
- The setup was established and maintained by Institute for Development and Research in Banking Technology (IDRBT).
- NEFT enables bank customers to transfer funds between any two NEFT enabled bank accounts on a one-to-one basis via electronic messages.
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