NEFT

Saturday, Apr 20, 2024 | Last Update : 02:07 AM IST

The RBI has asked the member banks to keep adequate liquidity in their current account with the regulator at all times to facilitate successful posting of NEFT batch settlements. (Photo: ANI)

NEFT transactions to be available 24x7 from Dec 16

RTGS is meant for large-value instantaneous fund transfers, while NEFT is used for fund transfers of up to Rs 2 lakh.

07 Dec 2019 11:26 AM

The Reserve Bank of India (RBI) has mandated banks not to charge savings account holders for NEFT with effect from January 2020.

No NEFT charges from January

The RBI this year had done away with charges on NEFT and RTGS transactions and asked banks to pass on the benefit to their customers.

09 Nov 2019 3:39 AM

This rapid growth in the payment systems, inter-alia, has been facilitated by a series of measures taken by the Reserve Bank of India," the central bank said in a statement on furthering digital payments. (Representational image)

No levying of charges on NEFT payment from January: RBI to banks

RBI has also proposed that FASTags would be enabled to pay for parking fee and even at fuel stations.

08 Nov 2019 5:26 PM

NEFT operated by the RBI as a retail payment system is available for customers from 8 am to 7 pm on all working days.

RBI to allow round-the-clock fund transfers under NEFT from December

RBI had said that it will make available the NEFT system on a 24x7 basis from December 2019.

07 Aug 2019 1:46 PM

Along with customer convenience, the waiver in NEFT, IMPS and RTGS charges will attract more customers towards digital transactions, said SBI. (Photo: File | PTI)

State Bank of India waives off IMPS, NEFT and RTGS charges

This means that SBI account holders will not have to pay fees for online money transfers.

12 Jul 2019 3:10 PM

Online NEFT transactions attracted a fee of Rs 2.5 for less than Rs 10,000, Rs 5 for Rs 10,001-1 lakh and Rs 15 for above Rs 1 lakh to Rs 2 lakh.

HDFC Bank makes RTGS, NEFT online transactions free from Nov 1

NEFT or RTGS transaction carried out at the bank branch will be payable.

06 Nov 2017 5:08 PM

State Bank of India is country's largest lender.

SBI revises IMPS charges, scraps fee for Rs 1,000 transaction

Country's largest public sector bank says move aims to promote small ticket transactions.

08 Aug 2017 2:52 PM

SBI slashed NEFT, RTGS transactions by 75 per cent.

New NEFT, RTGS fees for SBI customers started today

Also, new revised charges for NEFT, RTGS will attract GST rate of 18 per cent.

15 Jul 2017 5:55 PM

SBI will cut charges on electronic transfer of funds through NEFT and RTGS by up to 75 per cent from Saturday.

Pay 75 per cent less for NEFT, RTGS transactions with SBI

SBI has also waived charges for fund transfer of up to Rs 1,000 done through Immediate Payment Service (IMPS).

13 Jul 2017 6:53 PM

SBI reduced the NEFT and RTGS charges up to 75 per cent.

SBI: Charges for NEFT, RTGS slashed by 75 per cent

SBI also waived charges for fund transfer of up to Rs 1,000 through IMPS to promote small transactions.

13 Jul 2017 12:56 PM

RBI allows 23 NEFT transfers: Things you should know

At present, RBI allows banks to conduct NEFT funds transfers in batches from 8 am to 7 pm.

09 May 2017 2:53 PM

The NEFT system settles fund transfer requests of participating banks on net basis at hourly intervals from 8 am to 7 pm on all working days. (Photo: PTI/File)

Additional 11 batches to transfer funds via NEFT from July 10

Total number of half hourly settlement batches during the day will increase to 23.

08 May 2017 8:29 PM

Reserve Bank makes NEFT funds transfer faster, easier

Central bank says NEFT settlement cycle will be reduced from hourly batches to half hourly batches.

06 Apr 2017 5:47 PM

IMPS is an interbank electronic instant mobile money transfer service through mobile phones.

Centre limits fees for electronic banking; BSNL offers discount

As per RBI norms, NEFT transfers of up to Rs 10,000 attract Rs 2.5 fee.

22 Dec 2016 1:22 AM

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Shobhaa De