Tag: National Electronic Funds Transfer

RBI To Provide Liquidity Facility To Make NEFT System 24x7

Mumbai: The Reserve Bank of India (RBI) has decided to provide an additional collateralised intra-day liquidity facility for smooth operation of payment system National Electronic Funds Transfer (NEFT) on a round-the-clock basis from December 16, the central bank said. The move will aid the payment system become operational on a 24×7 basis. The facility is […]

RBI on cash deposit in ATMS
RBI To Make NEFT System Available 24x7 From Dec 16

Mumbai: The Reserve Bank of India on Friday announced it has decided to make the National Electronic Funds Transfer (NEFT) system available on a round-the-clock basis from December 16. The facility is used to electronically transfer funds from one account to another of banks which are members of this system. “The system will be available […]

No Levying Of Charges On NEFT Payment From January: RBI To Banks

Mumbai: Come January 2020, and customers may not have to pay any charges for transactions done through the popular NEFT system. A proposal in this regard has been mooted by the RBI to give impetus to digital transactions on the third anniversary of demonetisation. The central bank has also proposed that FASTags would be enabled […]