National Electronic Fund Transfer

National Electronic Funds Transfer (NEFT) is one of the most prominent electronic funds transfer systems of India. Started in
Nov.-2005, NEFT is a facility provided to bank customers to enable them to transfer funds easily and securely on a one-to-one basis.
It is done via electronic messages. This is not on real-time basis like RTGS (Real Time Gross Settlement). This is a "net" transfer facility
which is executed in hourly batches resulting in a time lag. NEFT facilities are available in 30,000 bank branches all over the country and
work on a batch mode.

NEFT has gained popularity due to it saving on time and the ease with which the transactions can be concluded. This reflects from the fact that
42% of all electronic transactions in the 2008 financial year were NEFT transactions.

How this works

Detailed process NEFT is as follows

Step-1 : Customer fills an application form providing details of the beneficiary (like name, bank, branch name, IFSC, account type and account
number) and the amount to be remitted. The remitter authorizes his/her bank branch to debit his account and remit the specified amount to the
beneficiary. This facility is also available through online banking and some banks offer the NEFT facility even through the ATMs.

Step-2 : The originating bank branch prepares a message and sends the message to its pooling centre (also called the NEFT Service Centre).

Step-3 : The pooling centre forwards the message to the NEFT Clearing Centre (operated by National Clearing Cell, Reserve Bank of India,
Mumbai) to be included for the next available batch.

Step-4 : The Clearing Centre sorts the funds transfer transactions destination bank-wise and prepares accounting entries to receive funds from
the originating banks (debit) and give the funds to the destination banks(credit). Thereafter, bank-wise remittance messages are forwarded to the
destination banks through their pooling centre (NEFT Service Centre).

Step-5 : The destination banks receive the inward remittance messages from the Clearing Centre and pass on the credit to the beneficiary
customers accounts.

Service Charges for NEFT

The structure of charges that can be

a) Inward transactions at destination bank branches (for credit to beneficiary accounts):

Free, no charges to be collected from beneficiaries

b) Outward transactions at originating bank branches (charges for the remitter):

For transactions up to 10,000: not exceeding 2.50 (+ Service Tax)

 For transactions above 10,000 up to 1 lakh: not exceeding 5 (+ Service Tax)

For transactions above 1 lakh and up to 2 lakhs: not exceeding 15 (+ Service Tax)

For transactions above 2 lakhs: not exceeding 25 (+ Service Tax)

Settlement Timings

Currently, NEFT operates in hourly batches - there are :

1.twelve settlements from 8:00 AM to 7:00 PM on week days and
2.six settlements from 8:00 AM to 1:00 PM on Saturdays.

Any transaction initiated after a designated settlement time would have to wait till the next designated settlement time.
As of 2013, all transactions initiated before 5 PM will be settled on same day.
No transactions are settled on weekly holidays and public holidays.
Interfaces : NEFT
NEFT Process Flow in SBI- CBS

NEFT (National Electronic Funds Transfer), is a mechanism for settlement of funds. Unlike RTGS, here
the settlement would be on NET basis (not on GROSS basis) and the messages, both incoming and
outgoing, will be bunched at NEFT Gateway at periodical intervals. CBS will generate outward
messages only. Messages can be sent only to NEFT enabled Bank/Branches. Validation should be
available on authorization of the transaction. The outward messages will be routed through a separate
Queue in MQ Server. A separate logical port will be provided for PSGI(Payment System Gateway
Interface).

Incoming messages by RBI will be handled by the Interface to be developed by M/s. Satyam Computers
Ltd., on the lines of Multi-Remittance and transactions will be posted to CBS by the interface. The
functionality at CBS is not time-critical and will be available between SOD and 8 pm every day and if
any transaction not posted before 8 pm, will be posted by DAU through PSGI on the following day. NEFT
messages in CBS are handled through Multi-Remittance Interface. The script neft.start brings up the
service in CBS. The script used in the processing of NEFT are infd5580, IF5598.PCO, IF3517.PCO,
IF3519.PCO.

ARCHITECTURE:
The main architecture of NEFT Messages ( Outgoing) will be as follows:

The main architecture of NEFT Messages (Incoming) will be as follows:

NEFT TRANSACTION FLOW

Incoming messages will be received at PSGI from RBI NEFT Gateway in bunches. i.e., a single message
will contain the details of a number of accounts for which credits are to be afforded. PSGI will post the
following entries:
Debit NEFT Inward Messages Account (DAU Branch) (Consolidated amount)
Credit NEFT Suspense Account (DAU Branch) (Consolidated Amount)
And after confirmation of above transaction, PSGI will generate and send individual transactions for the
individual customer accounts at regular intervals.
Debit NEFT Suspense Account (At DAU Branch)
Credit Customers Account (Respective Branches)
In case any transaction fails for specific reasons (to be provided by CBS to PSGI, like HOST NOT
AVAILABLE etc), the PSGI would attempt to post the same after a gap of 10 minutes, which may be
repeated until success or specified time for return of the message. The balance, if any, in NEFT System
Suspense Account will be required to be reversed manually by DAU.
For Inward messages, which are to be returned for reasons other than mentioned above, the following
entries will be put through in the system:
Debit NEFT Suspense Account (At DAU Branch)
Credit NEFT Inward Messages Returned Account (DAU Branch)

At the end of the day:

DAU will ensure the System Suspense accounts are made NIL
The balances to be transferred to Mumbai Main Branch are done as follows:

NEFT Outward Messages Account (CREDIT) + NEFT Inward Messages Returned Account (CREDIT)
NEFT Outward Messages Rejected Account (DEBIT) will be transferred to Mumbai Main Branch.
NEFT Inward Messages Account (DEBIT) + NEFT Outward Messages Returned Account (DEBIT) will
be transferred to Mumbai Main Branch.

THE FLOW DIAGRAM FOR NEFT INCOMING MESSAGES:

THE FLOW DIAGRAM FOR NEFT OUTGOING MESSAGES:
THE FLOW DIAGRAM FOR NEFT BULK MESSAGES:
DETAILS OF SCRIPTS FOR NEFT
FOR NEFT INCOMING MESSAGES:
When a customer from makes a transaction to SBI related customer through NEFT it is considered as
NEFT INCOMING TRANSACTION to the CBS. The transaction is routed to CBS through the
RBINEFT gateway and then to our PSGI with type NI. The incoming message will first comes to the
directory $spool/Interfaces/NEFT/ NEFT-STATUS-INCOMING .
Neft_ack_in.sh triggers the cat job neft_ack.in for every 30sec in a day.
Neft_ack.in calls IF3519.PCO and if3519.c for processing and obtaining the ack from MQ of the
incoming message if it is successful (i.e.,MSGSTA=0) else it pass the ERRORCODE. The successful
messages are copied to $spool/Interfaces/NEFT/NEFT-STATUS-INCOMING/NEFT-ARCHIVE.
IF3519.PCO takes the neft message and processes it and updates its status in neft table.
If3519.c : This program process the ack-messages from MQ with two arguments (Qmanager and
QIncomingACK) that are obtained by using IF3519.card file, if the status of the message is zero.
FOR NEFT OUTGOING MESSAGES:
These messages are fired from teller of the Branch and the program Neft.out will pick up the message
and processes it and sents through MQ .
Neft_out.sh: This is a cron job which triggers cat job neft.out for every 10 sec in a day.
Neft.out: This is the cat job for processing neft messages which are outgoing. This program takes the
fresh message from $spool/Interfaces/NEFT/OUTGOING and calls IF5557.COB to process it. For the
successful message the status is zero and it is sent through MQ using if5554.c program. The unprocessed
ones are moved to the directory $spool/Interfaces/NEFT/INVALID.

IF5557.COB: This a cobol program which process the neft outgoing message and updates the status in
the neft table and gives different status if any abnormality in the message.
If5554.c: The processed outgoing message are sent through MQ series using this program and this
program uses the card file IF3510.card for getting the arguments Qmanager, QOutgoingRBI.
FOR NEFT BULK MESSAGES:
BULK messages are picked by the cron job neft_bulk.sh and processed by infd5580.
Neft_bulk.sh triggers cat job infd5580 for every 2.5min in a day.
Infd5580 picks up the outgoing messages from the directory $spool/Interfaces/NEFT/NEFT-BULK-
UPLOAD-FILES and process it by calling a cobol job IF5580.COB. It moves the successful messages to
the directory $spool/Interfaces/NEFT/NEFT-BULK-UPLOAD-FILES/UPLOAD-ARCHIVE and
failed/error messages to $spool/Interfaces/NEFT/NEFT-BULK-ERROR-FILES with .ERR extension.
Inside this IF5598 is called for generating report and IF3517 is called for generating extract.

IF5580.COB processes the bulk-outgoing messages, updates status in tables (bnft and neft) and calls
IF5586 (for inserting data in temporary table), IF5587 (for forming the neft transaction).
IF5598.PCO generates a report for the successful bulk outgoing message (i.e., for which message status
is 00) .
IF3517.PCO to generate extract for the successful message and if is archieved after generation of the
same.
NECESSARY CARD FILES:
The card files mainly used are (1) IF3519.card (2) IF3510.card
IF3519.card contains arguments for if3519 program which gets the ACK-INCOMING messages from
MQ .
IF3510.card contains arguments for if5554 program which sends OUTGOING messages from CBS
through MQ server.
POSSIBLE STATUS OF NEFT MESSAGES OUTGOING:
The status of the messages stored in NEFT table for the outgoing are :
1) PROS: Positive Response---- successful
2) RETU: Negative Response from ILM/SSN, DAU entries REVERSED.
3) WAIT: DAU entries passed and waiting for response.
4) UNPR: Unprocessed- Message stored in database , without any processing.

FAILURE SCENARIOS AND SOLUTIONS:

1) The major failure we can face with these NEFT/RTGS is MQCONN ended with some reason
code.

If the incoming ack messages not received and outgoing messages are accumulated due to MQ(ILM)
Server problem, the matter has to be escalated PSG.
2) There may be an issue with space in the directory.

If the directory (which stores the file after it has been processed) has insufficient disk space, the matter
should be taken up with PSO and IDM for creation of disk space.
3) If NEFT messages are processing and suddenly the server is rebooted.
Then those messages which are pending in the directory will be processed after neft services started. But
the messages which are under process will be returned with a failed status and need to be uploaded again
to process them.

RTGS / NEFT FAQ SBI

1. What is Inter Bank Transfer?

Inter Bank Transfer enables electronic transfer of funds from the account of the remitter in one Bank to the account of the beneficiary maintained with any other Bank branch.
There are two systems of Inter Bank Transfer - RTGS and NEFT. Both these systems are maintained by Reserve Bank of India....

RTGS - Real Time Gross Settlement - This is a system where the processing of funds transfer instructions takes place at the time they are received (real time). Also the
settlement of funds transfer instructions occurs individually on an instruction by instruction basis (gross settlement). RTGS is the fastest possible interbank money transfer facility
available through secure banking channels in India.

NEFT - National Electronic Fund Transfer - This system of fund transfer operates on a Deferred Net Settlement basis. Fund transfer transactions are settled in batches as
opposed to the continuous, individual settlement in RTGS. Presently, NEFT operates in hourly batches from 8 am to 7 pm on week days and 8 am to 1 pm on Saturdays.

The above mentioned facilities are available to both Retail and Corporate Internet Banking users of SBI (provided they have availed transaction rights).

2. What is the minimum/maximum amount for RTGS / NEFT transactions under Retail Internet Banking?

Minimum / Maximum amount for RTGS / NEFT transactions under Retail Internet
Banking
Type Minimum Maximum
RTGS Rs. 2 Lakhs Rs.5 Lakhs
NEFT No Minimum Rs.5 Lakhs

3. What is the minimum/maximum amount for RTGS / NEFT transactions under Corporate Internet Banking?

Minimum / Maximum amount for RTGS / NEFT transactions under Corporate Internet
Banking
Type Minimum Maximum
Rs.50 lakhs for Vyapaar and
RTGS Rs.2 Lakhs
Rs.500 crores for Vistaar
Rs.50 lakhs for Vyapaar and
NEFT No Minimum
Rs.500 crores for Vistaar
 4. When does the beneficiary get the credit for a RTGS payment?

Under normal circumstances the beneficiary Bank branch receives the funds in real time as soon as funds are transferred by the remitting Bank. The beneficiary Bank has to credit
the beneficiary's account within two hours of receiving the funds transfer message.

5. When does the beneficiary get the credit for a NEFT payment?

As stated above, NEFT operates in hourly batches. Currently there are twelve settlements from 8 am to 7 pm on week days and six settlements from 8 am to 1 pm on Saturdays.
Therefore, the beneficiary can expect to get the credit for the transactions put through between 8 am to 5 pm on weekdays (between 8 am to 12 noon on Saturdays) on the same
day. For transactions settled in the 6 and 7 pm batches on week days and at 1 pm on Saturday, the credit will be afforded either on the same day or on the next working day.

6. If an RTGS transaction is not credited to the beneficiary account, does the remitter get back the money?
Yes. If the beneficiary's bank is unable to credit the beneficiary's account for any reason, the former will return the money to the remitting bank within 2 hours. Once the amount is
received by the remitting bank, it is credited to the remitter's account by the branch concerned.
7. If an NEFT transaction is not credited to a beneficiary account, does the Remitter get back the money?
Yes. If the beneficiary's bank is unable to credit the beneficiary's account for any reason, the former will return the money to the remitting bank within 2 hours of completion of the
batch in which the transaction was processed. Once the amount is received by the remitting bank, it is credited to the remitter's account by the branch concerned.
8. At what time during the day/week the RTGS & NEFT services are available?

RTGS transactions are sent to RBI as per the following schedule:

Day Start Time End Time
Monday to Friday 8:00 hrs 16:00 hrs
Saturday 8:00 hrs 13:00 hrs

NEFT transactions will be sent to RBI based on the following schedule:

Day Start Time End Time

Monday to Friday 7:00 hrs 18:30 hrs

Saturday 7:00 hrs 12:30 hrs

RBI NEFT transactions are settled in batches based on the following timings:
12 settlements on weekdays - at 08:00, 09:00, 10:00, 11:00, 12:00, 13:00, 14:00, 15:00, 16:00, 17:00, 18:00 and 19:00 hrs.
6 settlements on Saturdays - at 08:00, 09:00, 10:00, 11:00, 12:00 and 13:00 hrs.

Please note that all the above timings are based on Indian Standard Time (IST) only.

9. What are the security measures/steps to be adopted while using Mobile OnlineSBI?

For effecting an RTGS / NEFT remittance the remitter has to furnish the following information:
Amount to be remitted.

Remitting customer's account number which is to be debited.

Name of the beneficiary bank.

Name of the beneficiary.

Account number of the beneficiary.

Sender to receiver information, if any.

IFSC code of the destination bank branch.

 10. How to find the IFSC code of the beneficiary branch?

In Onlinesbi, the remitter has the option of selecting the location of the destination Bank Branch in case the IFSC code is not known. If the correct values are selected for Bank,
State and Branch, the IFSC code is automatically updated.

11. Do all bank branches in India provide RTGS & NEFT services?

No. RTGS and NEFT services are enabled only in specific bank branches across the country. A list of such RTGS / NEFT enabled branches can be obtained from the RBI
website, http://rbidocs.rbi.org.in/rdocs/RTGS/DOCs/RTGEB1110.xls for RTGS and http://www.rbi.org.in/scripts/neft.aspx for NEFT.

12. How do I go about using this service?

Avail Internet Banking facility for your account with transaction rights. Contact your SBI branch for the purpose.

Log on to www.onlinesbi.com using Internet Banking ID and Password.

Access the Profile tab and click on the Manage Beneficiary link.

Select Inter Bank Payee from the options provided.

Select 'Add' option and provide the Beneficiary Name, Beneficiary Account Number, Address and Inter Bank Transfer Limit in the relevant fields.

Enter the IFSC code of the beneficiary bank branch by either:

o Selecting the IFSC code option and entering 11 digit IFSC code in the textbox.
o Selecting the Location option and then the Beneficiary Bank, State and Branch form the drop down menus provided.

Click the 'accept Terms of Service (Terms & Conditions)' button followed by 'confirm'.

A high security password is sent to the mobile number as an additional security measure. Enter this password to authorize the beneficiary.

The beneficiary added is activated in a maximum of 16 hrs. time. Once activated you can transfer funds to the beneficiary.
To remit funds to the Inter Bank Payee through RTGS / NEFT select the 'Inter Bank Transfer' link in the 'Payments/Transfers' tab.

Select the Transaction Type - RTGS or NEFT.

The list of beneficiary accounts added is displayed.

Enter the Amount and select the beneficiary to be credited from the list.

Click on 'accept Terms of Service (Terms & Conditions)' and confirm.

13. What are the service charges applicable for RTGS / NEFT transactions?
Charges for RTGS / NEFT are as listed in the following table:

NEFT transactions will be sent to RBI based on the following schedule:

Time of settlement at the Reserve Bank of Charges per Transaction for Outward
RTGS India Transactions
From To
Rs.2 lakhs to Rs.5 lakhs Rs.25/-
1 09:00 Hours 12:00 Hours
Above Rs.5 lakhs Rs.50/-
15:30 Rs.2 lakhs to Rs.5 lakhs Rs.26/-
After 12:00
2 ( 13:00 hrs on Saturday
Hours Above Rs.5 lakhs Rs.51/-
hours)
3 After 15:30 16:30 hrs ( On week Rs.2 lakhs to Rs.5 lakhs Rs.30/-
 Hours days) Above Rs.5 lakhs Rs.55/-
NEFT - Amount service charge
Amount Service Charge
Upto Rs.10,000/- Rs.2.50/-
From Rs.10,001/- to Rs.1 Lakh Rs.5/-
NEFT
Above Rs.1 lakh upto Rs.2 lakhs Rs.15/-
Above Rs.2 lakhs Rs.25/-

14. Whom I can contact, in case of non-credit or delay in credit to the beneficiary account for NEFT transaction?

Please contact your bank/branch or the destination bank/branch or the Customer Facilitation Service Centre of the banks.

SBI Corporate Website

Customer Care
FAQs
(FAQ) RTGS NEFT
(FAQ) RTGS/ NEFT
1. What is Inter Bank Transfer?

1. Inter Bank Transfer is a special service that allows you to transfer funds electronically to accounts in other banks in India through:

FAQ's for RTGS/NEFT

1. What is Inter Bank Transfer?

Inter Bank Transfer is a special service that allows you to transfer funds electronically to accounts in other banks in India through:

NEFT: The acronym NEFT stands for National Electronic Funds Transfer. Funds are transferred to the credit account with the other participating Bank using RBI's NEFT service.
RBI acts as the service provider and transfers the credit to the other bank's account. This system of fund transfer operates on a Deferred Net Settlement basis. Fund transfer
transactions are settled in batches as opposed to the continuous, individual settlement in RTGS. Presently, , NEFT operates in hourly batches from 8 am to 7 pm on week days and
8 am to 1 pm on Saturdays.

RTGS: The acronym RTGS stands for Real Time Gross Settlement. This is a system where the processing of funds transfer instructions takes place at the time they are received
(real time). Also the settlement of funds transfer instructions occurs individually on an instruction by instruction basis (gross settlement). The RTGS system is the fastest possible
interbank money transfer facility available through secure banking channels in India.

2. What is the minimum/maximum amount for RTGS/NEFT transactions?

Type Minimum Maximum

RTGS Rs. 2 Lakh No Limit

NEFT No Limit No Limit

3. When does the beneficiary get the credit for a RTGS payment?
 Under normal circumstances the beneficiary Bank branch receives the funds in real time as soon as funds are transferred by the remitting Bank. The beneficiary Bank has to credit
the beneficiarys account within 30 minutes of receiving the funds transfer message.

4. When does the beneficiary get the credit for a NEFT payment?

NEFT operates in hourly batches. Currently there are twelve settlements from 8 am to 7 pm on week days and five settlements from 8 am to 1 pm on Saturdays. Therefore, the
beneficiary can expect to get the credit for the transactions put through between 8 am to 5 pm on weekdays (between 8 am to 1 pm on Saturdays) on the same day. For transactions
settled in the 6 and 7 pm batches on week days and at 1 pm on Saturday, the credit will be afforded either on the same day or on the next working day.

5. If an RTGS transaction is not credited to a beneficiary account, does the Remitter get back the money?

Yes. If the beneficiarys bank is unable to credit the beneficiarys account for any reason, the former will return the money to the remitting bank within 1 hour. Once the amount is
received by the remitting bank, it is credited to the remitters account by the branch concerned.

6. If an NEFT transaction is not credited to a beneficiary account, does the Remitter get back the money?

Yes. If the money cannot be credited for any reason, the beneficiarys bank has to return the money within next two batches i.e (B+2) to the remitting bank. Once this amount is
received back by the remitting bank, the amount is credited to the Remitter's account by the remitting bank.

7. At what time during the day/week is the RTGS & NEFT service is available?

RTGS transactions will be sent to RBI based on the following schedule:

RBI settlement Timings for transactions (other than Inter Bank transactions)

Day Start Time End Time

Monday to Friday 08:00 hrs 16:30 hrs

Saturday 08:00 hrs 02:00 hrs

NEFT transactions will be sent to RBI based on the following schedule:

RBI settlement Timings

Day Start Time End Time

Monday to Friday 08:00 hrs 19:00 hrs

Saturday 08:00 hrs 01:00 hrs

NEFT transactions are settled in batches based on the following timings:

Settlements on weekdays at hourly intervals from 08:00 hrs to 19:00 hrs.

Settlements on Saturdays at hourly intervals from 08:00 hrs to 01:00 hrs.

Please note that all the above timings are based on Indian Standard Time (IST) only.
 8 . What is the mandatory information required to make an RTGS & NEFT payment?

The Remitter has to provide the following details:

Amount to be remitted
Account no. to be credited
Name of the beneficiary bank
Name of the beneficiary customer
Sender to receiver information, if any
IFSC code of the receiving branch.
Mobile number of the remitter.

The amount will be credited to the account basing on the account number only. As such remitter has should be cautious on the account number while transferring the amounts in
electronic mode.

9. How to find the IFSC code of the beneficiary branch?

Based on simple search option- Location, Bank & Branch. The IFSC code will automatically be updated or if you know the IFSC code of the beneficiary bank, you can provide it
directly.

10. What are the service charges applicable for RTGS/NEFT transactions?

(a) RTGS TIME VARYING CHARGES (R-41) w.e.f. 19-07-2012

Bloc Time varying Tariff payable to RBI based on time of settlement Total Charges per Transaction
k at Reserve Bank of India (for Outward Transactions)

From To Time Varying

Tariff (Rs.)

1. 09:00 hours 12:00 hours No Charges Rs 2.00 lakhs to Rs Rs. 25/-

5.00 Lakhs

Above Rs 5.00 lakhs Rs .51/-

2. After 12:00 hours 15:30 hours 1/- Rs 2.00 lakhs to Rs Rs. 26/-
5.00 Lakhs

Above Rs 5.00 lakhs Rs .52/-

3. After 15:30 hours onwards (Customer Session 5/- Rs 2.00 lakhs to Rs Rs. 31/-
is upto 16:30 hrs) 5.00 Lakhs

Above Rs 5.00 lakhs Rs .56/-

(b) NEFT CHARGES

Charges per Transaction for Outward Transactions w.e.f. 01-08-2012
 Upto Rs 10,000 Rs. 2.50

Above Rs 10,000 Up to Rs 1.00 lakh Rs. 5/-

Above Rs 1.00 lakhs to Rs 2.00 lakhs Rs. 15/-

Above Rs 2.00 lakhs Rs. 25/-

11. Whom I can contact, in case of non-credit or delay in credit to the beneficiary account for NEFT transaction?

Please contact your bank/branch or the receiver bank/branch or the Customer Facilitation Service center of the banks. The Customer Facilitation Service details for NEFT can be
downloaded from here.

Customer Facilitation contact details for RTGS/NEFT

STATE BANK OF INDIA PHONE/FAX E-MAIL

Asst. General Manager Tel:

Payment Systems Group NEFT
1st Floor, Plot No. 8,9 &10 022-27573270/ 27573506/
[email protected]
State Bank of India 27560743
Sector-11,
CBD Belapur RTGS :
Navi Mumbai 400 614 022-27560746/27578057

Fax-022-27561664

[email protected]

National Electronic Funds Transfer (NEFT) Allahabad Bank

 Introduction :

Reserve Bank of India has introduced a system called ' National Electronic Funds Transfer
System (NEFT)' through which funds transfer operation would take place among member
Banks and financial institutions. Our bank is one of the participants in the above system.
Presently over 2700 branches across the country are enabled to offer NEFT facilities to their
customers.

Objective :

The objectives of the NEFT System are:

To establish an Electronic Funds Transfer System to facilitate an efficient, Secure, economical,

reliable and expeditious system of funds transfer and Clearing in the banking sector throughout
India, and

To relieve the stress on the existing paper based funds transfer and clearing system.

Eligibility Criteria For Customer Transactions :

Fund Transfer through NEFT can be availed by the customers who maintain their operative
accounts viz., Savings Bank, Current Account. This facility can also be allowed to CC / OD
account etc., subject to ensuring end use of funds.

Outward / Inward remittance facility under NEFT is offered to the customers of all the NEFT
enabled branches.
This facility is now being extended to walk-in customers for cash transactions upto Rs.50000/-

Procedure for availing the facility :

Customers have to submit a request by filling up a form available in all NEFT Branches along with the Cheques/Debit instruction to the branch.
The customer has to inform the beneficiaries Account Number, Name and IFSC code the Bank/ Branch where the funds are to be remitted.
NEFT transactions may be made for amounts inclusive of paisa component.
There is no value limit for putting through an individual NEFT transaction.
The list of the branches of all the Banks participating in NEFT is also available in RBIs website www.rbi.org.in

Batch Timings :

Presently eleven settlements are carried out during the day by RBI from Monday to
Friday i.e. at 9.00AM, 10 AM, 11 AM, 12.00 Noon, 1.00 PM, 2.00 PM, 3.00 PM, 4.00 PM,
5.00 PM, 6.00 PM, 7.00 PM. On Saturday the settlements are carried out at 9.00AM, 10
AM, 11 AM, 12.00 Noon and 1.00 PM.

The messages sent before the above batch timings shall be included in the respective
settlements otherwise they shall be included in the next batch/day.
Charges :

Amount Slab Rates

Outward Remittances

Up to Rs.1,00,000 Nil

Above Rs.1 lac and upto 2 lac Rs.15 per transaction

Above Rs. 2 lac Rs.25 per transaction

Inward Remittances

Any Amount Nil