Neft Transfer

Secure your payment: RBI launches name verification for NEFT, RTGS transfer

By entering the recipient's account number and IFSC code, senders can confirm the name of the account holder.

RBI proposes beneficiary name verification for RTGS and NEFT transactions

Payment Systems like UPI and IMPS provide a facility to the remitter to verify the name of the receiver before initiating a payment transaction

NBBL to begin work on net banking interoperability from April: Report

The RBI had earlier approved an interoperable system saying it will standardise settlement cycles for merchants, improve customer grievance mechanism

NEFT records a high of 41 million transactions in a single day: RBI

The banking regulator said its NEFT system has registered a growth of 700 per cent in terms of the volume of transactions in the past ten years

Here are details of new IMPS money transfer rule: How will it work?

Users will soon be able to transfer money up to Rs 5 lakh through IMPS by deploying the mobile number and bank account name of the receiver

What is NEFT and how it works?

National Electronic Fund Transfer, or NEFT, is now a preferred mode of transaction for everyone. The RBI-managed NEFT has made near-real-time movement of funds easy. But how does the system operate?

No RTGS service for 14 hours on Apr 18, NEFT will be operational: RBI

RBI urged the member banks to inform their customers to plan their payment operations accordingly

The coming turmoil in the capital markets

In part one of a series, the author says the capital markets and the securities ecosystem have remained broadly untouched by the progress in India's payment infrastructure

Yes Bank customers can make Rs 2 lakh payments for loans via other banks

The announcement comes a day after its customers were allowed inward IMPS and NEFT services for the same purposes

YES Bank resumes inward NEFT, IMPS services; customers can now pay dues

YES Bank administrator Prashant Kumar said that the moratorium imposed by the Reserve Bank of India could be lifted before the end of this week

Airtel Payments Bank enables NEFT, users can make transfers at any time

The facility will be available to customers on 24x7 basis even on holidays, enabling them to receive or send funds to any bank from anywhere, anytime, Airtel Payments Bank said in a statement

After NEFT, RBI is planning to make RTGS facility available 24X7

This could become a reality in a month or two, said a source

RBI opens 24x7 NEFT window; over 1.14 mn transactions done in first 8 hours

The facility will be available on all days of the year including holidays

RBI tells banks not to charge transaction fees for NEFT from Jan 2020

The RBI earlier this year had waived the charges it levied on banks for transactions routed through NEFT and RTGS

No transaction charge on NEFT payments from Jan 2020, RBI tells banks

Digital payments constituted a high 96% of total non-cash retail payments during the October 2018 to September 2019

RBI to provide liquidity support to banks for smooth NEFT transactions

RBI will extend the collateralised liquidity support on NEFT, which is currently available till 7.45 pm on working days, round the clock.

24x7 fund transfers under NEFT from Dec 2019 to boost digital payments

RTGS is mostly used for transactions above Rs 2 lakh. The RBI added it will facilitate the creation of a central payment fraud registry for tracking payment system frauds

RBI removes charges on RTGS/NEFT transactions; banks to pass on benefits

Country's largest bank SBI charges between Re 1 and Rs 5 for transactions through NEFT and between Rs 5 and Rs 50 for RTGS route

NEFT transfer to get quicker as RBI cuts clearance time

It will enhance the efficiency of NEFT system and add to customer convenience, says B P Kanungo