[

national electronic funds transfer

]
The RBI has decided to allow round-the-clock fund transfers through NEFT from December 2019.(REUTERS)

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

Mumbai | By Press Trust of India
UPDATED ON AUG 08, 2019 08:36 AM IST
RBI, in its Payment System Vision 2021 document, has said that it will make available the NEFT system on a 24x7 basis from December 2019 in order to promote digital transactions.
Both NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) are real-time payment systems maintained by the RBI and incur some associated charges.
Both NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) are real-time payment systems maintained by the RBI and incur some associated charges.

RBI to do away with charges on online money transfer

Hindustan Times, Mumbai | By Vivina Vishwanathan
UPDATED ON JUN 06, 2019 12:32 PM IST
The meeting, first after the Lok Sabha elections, also decided to set up a committee involving all stakeholders, under the chairmanship of CEO Indian Banks’ Association (IBA), to examine the entire gamut of ATM charges and fees.
SHARE
Story Saved