RBI announces NEFT facility will be available round-the-clock for customers
PrintListen to this Article
0:00
0:00
The Reserve Bank of India today announced that the National Electronic Funds Transfer(NEFT) facility will be available round-the-clock for the customers.
Speaking at a press conference after the release of the third bi-monthly policy statement, RBI Governor Shaktikanta Das said the RBI will make available the NEFT system on a 24x7 basis from December 2019.
Currently, 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 except 2nd and 4th Saturdays of the month.
Addressing the media, the RBI Governor said that the RBI has also decided to create a central payments fraud information registry system to deal banking frauds adding that the details of the same will be shared later.
The RBI Governor further said in order to leverage the advantages of the Bharat Bill Payment System and harness its full potential, it has been decided to permit all categories of billers (except prepaid recharges) who provide for recurring bill payments to participate in BBPS on a voluntary basis.
The BBPS, an inter operable platform for repetitive bill payments, currently covers five segments that are direct-to-home, electricity, gas, telecom and water bills. #casansaar (Source - NewsOnAir)
Speaking at a press conference after the release of the third bi-monthly policy statement, RBI Governor Shaktikanta Das said the RBI will make available the NEFT system on a 24x7 basis from December 2019.
Currently, 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 except 2nd and 4th Saturdays of the month.
Addressing the media, the RBI Governor said that the RBI has also decided to create a central payments fraud information registry system to deal banking frauds adding that the details of the same will be shared later.
The RBI Governor further said in order to leverage the advantages of the Bharat Bill Payment System and harness its full potential, it has been decided to permit all categories of billers (except prepaid recharges) who provide for recurring bill payments to participate in BBPS on a voluntary basis.
The BBPS, an inter operable platform for repetitive bill payments, currently covers five segments that are direct-to-home, electricity, gas, telecom and water bills. #casansaar (Source - NewsOnAir)
Category : RBI | Comments : 0 | Hits : 1077
The Supreme Court on Friday set aside the rejection of an IRS officer’s candidature for appointment as a member of the Income Tax Appellate Tribunal (ITAT), ruling that the involvement of the th...
The Reserve Bank of India (RBI) on Friday unveiled a set of liquidity-boosting measures aimed at infusing more than $23 billion (around ₹2 lakh crore) into the banking system, after review...
RBI has issued draft rules to tighten dividend payouts by banks by linking distributions to capital adequacy, asset and profit quality, setting a uniform prudential framework effective from FY27. In t...
Comments