Fintotal News Analysis | NEFT Timings of Banks Increased by RBI
NEFT Timings of Banks Increased by RBI
Ruby Jacob, 30 Oct 2012

RBI announced increase of operating hours of NEFT in its Second Quarter Monetary Policy Review on Tuesday, in order to encourage electronic transfer of money. NEFT (National Electronic Funds Transfer) timings have been increased from 8am to 7pm instead of 9am to 7pm for weekdays and 8 am to 1 pm on Saturdays. Change will take effect from 19 November 2012.

Banks have also been advised to proactively help customers in filling details like IFSC of destination branch required in NEFT form.