According to sources it was stated that the payment system, NEFT, which makes payments easy and fast, will now be available 24/7 as the bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>reserve bank of india (RBI) has allowed the operation round the clock. Meanwhile until yesterday, the facility had only between 8 am and 6:30 pm. Currently the news comes as a great relief with not having to check the availability of electronic funds transfer.
Furthermore it was stated that NEFT transfers have been split into half-hourly batches the first batch starting after 12:30 am and the last batch ending at midnight. Apparently that means, we cannot make a transaction from 11.30 pm to 12.20 am since the settlement of the last NEFT payment batch ends at midnight. To the surprise of all, the bank OF INDIA' target='_blank' title='rbi-Latest Updates, Photos, Videos are a click away, CLICK NOW'>rbi also announced that NEFT money transfer facility is available now even on holidays, all 365 days. Previously NEFT facility was not available on banking holidays and people had to wait for the bank branches to open even for online money transfers.
Perhaps with this new change, the country is ahead of the developed world in wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital technology in terms of payments and banking transactions. bank OF INDIA' target='_blank' title='rbi-Latest Updates, Photos, Videos are a click away, CLICK NOW'>rbi will promote wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital transactions in india from here on.
