NEFT Fund Transfer : NEFT fund transfer to get faster from July 10

Please follow and like us:
Follow by Email


After the new notification from RBI, NEFT fund transfer to get faster from July 10, 2017. What does it mean and how will it impact you :

1) Currently NEFT batches are processed on hourly basis.

2) Now NEFT settlement would process every half an hour.

3) The amount sent through NEFT shall be credited much faster.

4) If the Bank is unable to credit the beneficiary account for any reason, amount shall be returned to the remitting bank within two hours of completion of batch in which transaction was processed. Bank will credit the amount quickly to the remitter.

5) No change in NEFT processed at 8am and 7pm. It shall be processed in hourly bacth as earlier.

6) No minimum amount for funds transfer thru NEFT.

Life getting easier!

Stay updated. For more News, Views & more, Subscribe to our newsletter and follow us on Facebook, Twitter and Google+.

Leave a Reply

Your email address will not be published.

The content and images used on this site are copyright protected and copyrights vests with their respective owners. We make every effort to link back to original content whenever possible. If you own rights to any of the images, and do not wish them to appear here, please contact us and they will be promptly removed. Usage of content and images on this website is intended to promote our works and no endorsement of the artist shall be implied. Read more detailed ​​disclaimer
Copyright © 2019 All rights reserved.
× How can I help you?