National Electronic Funds Transfer Current Affairs, GK & News

NEFT to be available 24X7

The Reserve Bank of India has announced that the National Electronic Funds Transfer (NEFT) facility will be available round-the-clock basis from December 2019. At present NEFT payment system operated by the Reserve Bank as a retail payment system is available for customers from 8 AM to 7 PM on all working days of the week ..

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Watal Committee recommendations for a cashless India

A 11-member committee set up under former finance secretary Ratan Watal on August 23 to suggest ways of promoting digital transactions in the country has submitted its report to Finance Minister Arun Jaitley. The following are the list of suggested recommendations: The Payments Regulatory Board (PRB) to be formed as an independent payments regulator within the ..

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Charges for NEFT rationalized by RBI

The RBI rationalized charges that banks can put on customers for transfer of funds through National Electronic Funds Transfer (NEFT). As per the new rate system by RBI, banks can charge not more than Rs 2.50 for funds transfer up to Rs 10,000. Charges for transfers beyond this limit would remain unaffected at Rs 5 ..

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Government integrates LLP with MCA

The government merged e-Governance project for Limited Liability Partnership (LLP) under the portal of Ministry of Corporate Affairs (MCA) The merger will provide for all state of the art services like credit card payment, online banking from six banks, payment though NEFT from any bank and host of other services. Any user willing to avail ..

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Axis Bank ties up with Ahli United Bank for remittance

Axis bank, the 3rd largest private sector lender tied up with Bahrain’s Ahli United Bank for inward remittances. What does this tie up would bring in for customers of Ahli United Bank? Any person having an a/c with Bahrain’s Ahli United Bank can transfer money to a bank account holder in India using the Internet ..

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