National Electronic Funds Transfer (NEFT) system – Settlement at half-hourly intervals

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..... nsfer (NEFT) system - Settlement at half-hourly intervals National Electronic Funds Transfer (NEFT) system presently settles the fund transfer requests of the participating banks on net basis at hourly intervals from 8:00 am to 7:00 pm on all working days. All participating banks have been advised to give the credit to the beneficiary customer only after the inter-bank settlement has been complet .....

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..... remain the same i.e., B+2 hours (Settlement batch time plus two hours) as per extant practice. 4. The participating banks are, therefore, advised to carry out the required changes in their CBS system to initiate the NEFT transactions for half hourly settlement as above, and also to accept and credit the inward NEFT transactions on half hourly basis. IDRBT/IFTAS will communicate the technical chan .....

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