The Reserve Bank of India maintains an electronic funds transfer system known as National Electronic Funds Transfer.
NEFT allows bank clients in India to send electronic messages to transfer funds between any two NEFT-enabled bank accounts on a one-to-one basis.
Throughout the day, NEFT payments are separated into batches.
It was determined earlier in 2019, 48 half-hourly batches would take place every day between 00.30 a.m. and 00:00 a.m., regardless of whether it was a holiday or not.
NEFT services are now available 365 days a year, 24 hours a day, 7 days a week.
NEFT transfers can be as little as Rs. 1 in value.
