Business

Transfer funds 24x7 via NEFT from Dec.

Come December, you can transfer funds round-the-clock using the National Electronic Funds Transfer or NEFT facility. RBI Governor Shaktikanta Das announced on Wednesday that the central bank would make available the NEFT system 24x7 from December.

Currently the system is available from 8 a.m. to 7 p.m. on all working days except second and fourth Saturdays of the month.

In another citizen-friendly measure, the Reserve Bank has thrown open the Bharat Bill Payment System, a platform for repetitive bill payments, to all categories of billers, except prepaid recharges. Currently, the platform is open for paying DTH, electricity, gas, telecom and water bills. The central bank will be issuing detailed instructions in this regard by the end of next month.

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Printable version | Jul 7, 2020 4:57:48 AM | https://www.thehindu.com/business/transfer-funds-24x7-via-neft-from-dec/article28872150.ece

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