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

RBI - RBI/2016-2017/300 DPSS (CO) EPPD No.2612/04.03.01/2016-17 - Dated:- 8-5-2017 - RBI/2016-17/300 DPSS (CO) EPPD No.2612/04.03.01/2016-17 May 08, 2017 The Chairman and Managing Director / Chief Executive Officer of member banks participating in NE .....

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ervals 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 completed and the End-of-Batch (EOB) message is received by the .....

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hourly settlements would speed up the funds transfer process and provide faster credit to the destination accounts. Accordingly, it is decided to introduce 11 additional settlement batches during the day (at 8.30 am, 9.30 am, 10.30 am …&hellip .....

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he 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 settleme .....

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