NEFT

NEFT

India has two main electronic funds settlement systems for one to one transactions: the Real Time Gross Settlement (RTGS) and the National Electronic Funds Transfer (NEFT) systems. Transactions which are bulk and repetitive in nature are routed through electronic clearing service (ECS) which is further of two categories viz ECS-Credit (one debit and multiple credits e.g. Salary, Dividends) and ECS- debit (one credit and multiple debits e.g. bill payments, SIPs etc.). ECS is currently provided in around 75 centres in India.

Read more about NEFT:  Real-time Gross Settlement, National Electronic Fund Transfer, Indo-Nepal Remittance Facility Scheme, Service Charge For RTGS, Service Charges For NEFT, Settlement Timings, RBI Holidays For 2012, Interbank Mobile Payment Service, Comparison

Other articles related to "neft":

NEFT - Comparison
... The key difference between RTGS and NEFT is that while RTGS is on gross settlement basis, NEFT is on net settlement basis ... real-time ("push") transfer, while NEFT involves eleven settlements from 9 am to 7 pm on week days and five settlements from 9 am to 1 pm on Saturdays ... Thus if a customer has given instruction to its bank to transfer money through NEFT to another bank in the morning hours, money would be transferred the same day, but ...
Neft Daşları
... Neft Daşları (Azerbaijani Neft Daşları, the Oil Rocks, also Neftyanyye Kamni or Neftekamni in Russian) is an industrial settlement in Baku, Azerbaijan ... The settlement forms part of the municipality of Çilov-Neft Daşları in Əzizbəyov raion ... on the back of ships sunk to serve as the Neft Daşları's foundation ...