RBI opens NEFT transfer 24×7

NEW DELHI, DEC 16 (AGENCIES) | Publish Date: 12/16/2019 12:50:51 PM IST

Reserve Bank of India operationalised 24×7 NEFT facility from 12 a.m. Monday. In the first eight hours, over 11 lakh NEFT transactions were settled, RBI said. 

In a series of tweets, RBI said: “RBI operationalized NEFT 24×7 basis from today 12:00 am. This ensures availability of anytime electronic funds transfer. RBI now joins an elite club of countries having payment systems which enable round the clock funds transfer and settlement of any value...” Customers of SBI, HDFC Bank, Axis Bank, Punjab National Bank, ICICI Bank or any other commercial lender can now do National Electronic Funds Transfer (NEFT) transactions 24×7. NEFT will now be available on any day of the week or month, including holidays. 

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