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Digital India push: From December 16, you can make NEFT transfers 24x7

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  • Date Added: Feb 03, 2020
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BUSINESS-STANDARD/PTI DEC-2019 In a bid to promote digital transactions, the RBI on Friday said round-the-clock transactions will be allowed under the National Electronic Funds Transfebanr (NEFT) system from December 16. The 24X7 NEFT system will be available on all days of the year, including holidays, it added. NEFT transactions are settled in hourly batches. For weekdays, the batches are from 8 am to 7 pm. On first and third Saturdays, the settlement happens from 8 am to 1 pm.