RBI allows round-the-clock fund transfers under NEFT from December

The Reserve Bank of India(RBI) has announced that the National Electronic Funds Transfer(NEFT) systems would be available on a 24×7 basis from December 2019. At present,the NEFT payment system operated by the Reserve Bank of India is available to customers from 8am to 7pm on all working days with the exception of second and fourth… Continue reading RBI allows round-the-clock fund transfers under NEFT from December

RBI waives RTGS, NEFT charges

The Reserve Bank of India(RBI) has announced that it is removing all charges on money transfers done through the RTGS and NEFT modes.This decision was taken to boost the digital funds movement. NEFT stands for National Electronic Fund Transfer.It is a payment system which facilitates one-to-one funds transfer from one financial institution to another. Using… Continue reading RBI waives RTGS, NEFT charges