National Electronic Funds Transfer (NEFT)

URI: https://gptkb.org/entity/National_Electronic_Funds_Transfer_(NEFT)
GPTKB entity
Statements (33)
Predicate Object
gptkbp:instanceOf Electronic funds transfer system
gptkbp:acceptsPaymentMethod Retail
gptkbp:access Mobile banking
Bank branches
Internet banking
gptkbp:availableOn 24x7
gptkbp:clearingHouse gptkb:Reserve_Bank_of_India
gptkbp:country gptkb:India
gptkbp:currency gptkb:Indian_Rupee
gptkbp:eligibility Individuals
Corporates
Firms
Any account holder in participating banks
Government departments
gptkbp:fareControl Varies by bank
gptkbp:features Regulated by RBI guidelines
https://www.w3.org/2000/01/rdf-schema#label National Electronic Funds Transfer (NEFT)
gptkbp:launched 2005
gptkbp:maximumTransferAmount No maximum
gptkbp:minimumTransferAmount No minimum
gptkbp:operatedBy gptkb:Reserve_Bank_of_India
gptkbp:purpose Inter-bank fund transfer
gptkbp:regulates gptkb:Reserve_Bank_of_India
gptkbp:relatedTo gptkb:Immediate_Payment_Service_(IMPS)
gptkb:Real_Time_Gross_Settlement_(RTGS)
gptkbp:settlementFrequency Half-hourly
gptkbp:settlementType Batch
gptkbp:transferMode Account to account
Cash to account (at branch)
gptkbp:transferTime Usually within 2 hours
gptkbp:usedBy Banks in India
gptkbp:bfsParent gptkb:Payment_and_Settlement_System
gptkbp:bfsLayer 7