NEFT

NEFT SYSTEM

Features :

  1. National Electronic Funds Transfer (NEFT) system is a nationwide funds transfer system to facilitate transfer of funds from any bank branch to any other bank branch.
  2. Below 2 lakh NEFT.
  3. The beneficiary gets the credit on the same Day or the next Day depends on the technical functioning of Computers and communication systems of RBI time of settlement.
  4. The essential information that the remitting customer has to furnish is Beneficiary details such as beneficiary name and account number. Name and IFSC of the beneficiary Bank branch.