Now NEFT service available for 24*7. RBI has decided for this. From the morning of 16 December, NEFT will be operational for 24 hours on all 7 days. NEFT will reach the account as usual within 2 hours and if the return is to be made, the return will also be done. RBI has given special instructions to banks for this.
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It is being told that there will always be 4 batches of half an hour and will have to work accordingly. The first batch will start at 12:30 on the night of December 15, ie on the morning of December 16 and will end by 12:00 the next night. NEFT will also work on holidays, irrespective of the type of holiday. NEFT will operate on straight through processing mode after normal hours of work.
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Wherever there will be NEFT credit, the member bank will give confirmation that NEFT has been done. Banks have been asked to keep sufficient cash for this so that NEFT can be successful. Instructions have been given to banks that whatever infrastructure is required for this, it should be prepared immediately. The NEFT facility is popular among both business and small customers. In the year 2017-18, NEFT worth Rs 1,72,229 billion has been done in 1.9 billion transactions. Its popularity is likely to increase. Along with businessmen, customers will get a big relief.
