NEFT Transfer Available 24×7 From Today

New Delhi: Banks will now allow their consumers 24-hour National Electronic Fund Transfer (NEFT) facility from today.

The bank customers will be facilitated to transfer their money online at any time as the Reserve Bank of India (RBI) allowed the 24-hour NEFT facility.

The RBI’s latest move will facilitate digital transactions in India and the bank customers will now be able to transfer their amounts higher than IMPS via NEFT on any day at any time. So far, the IMPS facility provided this facility on all days, but with the online transfer of Rs two lakh.

The RBI has also directed the banks to update their systems to provide NEFT facility round the clock in a smooth way.