Monday, May 8, 2017

National Electronic Funds Transfer (NEFT) system – Settlement at half-hourly intervals

NEFT system settles the fund transfer at hourly intervals from 8:00 am to 7:00 pm.

It is now decided to introduce additional settlements at half-hour intervals within the 8:00 am to 7:00 pm window. Hence, 11 additional batches will be introduced during the day (at 8.30 am, 9.30 am, 10.30 am ……… 5.30 pm and 6.30 pm), taking the total number of batches to 23.

The return discipline shall remain the same i.e., B+2 hours (Settlement batch time plus two hours).

The additional batches will be introduced from July 10, 2017 (Monday).

Based on RBI circular dated 8/5/2017. For any further clarification in the matter please refer …………..Poppy