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What is the NEFT Full Form

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NEFT Full Form
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NEFT Full Form is National Electronic Funds Transfer

NEFT meaning is National Electronic Funds Transfer. Institute for Development and Research in Banking Technology is the main founder of this technology. NEFT system is used for the transfer of funds electronically. This system is maintained by the Reserve Bank of India and it was started its operation in 2005. It is not a real-time fund transfer system whereas it settles the funds on an hourly basis and this system is based on the net settlement of the amount. It is used for a smaller amount of money less than two lac. When we want to transfer money online from any bank branch then make sure that the respective branch must NEFT enabled.

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