Daijiworld Media Network - Bengaluru (SP)
Bengaluru, Oct 5: Reserve Bank of India (RBI) has announced that with effect from December this year, customers can remit funds through online National Electronic Funds Transfer (NEFT) facility all 24 hours of the day to accounts maintained with banks.
So far, NEFT facility was made available from 8 am to 7 pm on all days except second and fourth Saturdays of every month. Each of these fund transfers were allowed up to a limit of two lac rupees.
From December onward, the time restriction will be gone, the RBI said.
It has only said that funds transfer would be possible anytime, without specifying about the amount that can be transferred.