What is NEFT?

  1. PMS9 profile image74
    PMS9posted 5 years ago

    What is NEFT?

    what is mean by NEFT, and why it is required for online transaction?

  2. profile image55
    kumar24894posted 5 years ago

    If you are talking about NATIONAL ELECTRONIC FUNDS TRANSFER then,
    National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer. Under this Scheme,  individuals, firms and corporates can electronically transfer funds from any bank branch to any individual, firm or corporate having an account with any other bank branch in the country participating in the Scheme.