On April 07, 2017 09:56 (IST)
Fund transfer via NEFT or National Electronic Funds Transfer is set to get faster. Instead of hourly basis, the fund transfer will happen in batches of 30-minute intervals.
On August 28, 2016 12:04 (IST)
RTGS (real time gross settlement) and NEFT (national electronic funds transfer) are electronic payment systems that allow individuals to transfer funds between banks.
On April 21, 2012 16:47 (IST)
MICR code is necessary for all electronic clearing services (credit and debit) transactions. IFSC code is a pre-requisite for national electronic funds transfer (NEFT) and real time gross settlement (RTGS) transactions.
On April 09, 2012 20:21 (IST)
The move will enable all the banks to transfer funds electronically through real time gross settlement system (RTGS) and national electronic funds transfer (NEFT).