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NEFT fund transfer to get faster

NEFT fund transfer to get faster

Wednesday, April 12, 2017, 8:33 AM

Fund transfer via NEFT or National Electronic Funds Transfer is set to get faster. Instead of hourly basis, the fund transfer will happen in batches of 30-minute intervals, said RBI Deputy Governor BP Kanungo. NEFT or National Electronic Funds Transfer is an electronic payment system that allows individuals to transfer funds between banks. This fund transfer system is maintained by the RBI.
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