A Business Encyclopedia

NEFT Transaction Timings

Definition: The NEFT Transaction Timing refers to the period during which the electronic transaction can be made, and the same can be presented to the RBI for its clearance. If the transaction is not made within the time limit, the RBI will work on it on the next working day.

Transaction Timings for NEFT are:

Weekdays (Monday to Friday)         8:00 AM to 6:30 PM
Saturdays                                       8:00 AM to 12:30 PM

The NEFT operates in hourly batches. Currently there are 11 settlement batches on weekdays whose timings are 09:00, 10:00, 11:00, 12:00, 13:00, 14:00, 15:00, 16:00, 17:00, 18:00 and 19:00 hrs .

Whereas on Saturdays there are five settlement batches with timing 09:00, 10:00, 11:00, 12:00 and 13:00 hrs.

The payment instructions received by RBI within each settlement batch is consolidated and produced to the payee’s bank after each settlement.

For example, if the transaction has reached RBI at 12:30 PM, it will be processed at 1 PM. Payment processed in the last batch i.e. at 7 PM batch will reach the beneficiary account on the same day or the next working day.

Payments made after 6.30 on weekdays will be presented to RBI on the next working day, and the same will be processed in the first batch. Normally, it takes 15-30 minutes for the payment to reach the beneficiary’s account after the batch time.

Note: All the above timings are based on Indian Standard Time (IST) only.

Leave a Reply

Your email address will not be published. Required fields are marked *


Related pages

methods of transportationinelasticity of demand examplesbuzzmarketingdefine correlational analysiswhat does guerrilla marketing meanwhat is dialectic methoderg motivation theorycharacteristics of process costinghuman resource jargonsdefinition of disguisedmarket types monopoly oligopolycorrelation coefficient spearmanipo greenshoecurrency arbitrageformula for turnover ratioseven c's in communicationthe carrot principle pdfadvertising elasticity of demand examplevroom vie theoryresiduary meaningdefinition of divestingseven seas of communicationitr indiaquening theoryhuman resource management defexamples of brand extensionsoperant conditionsconstant elasticity of substitution definitionspearman's coefficient of rank correlationliquidity ratios for banksadvantages and disadvantages of brand extensionmeaning of oligopolisticdefinition of segmentingdefine profit margin ratiosaturated market definitioncontractionary fiscal policy definitioninelasticity of demand definitiondefinition of demand elasticitydividend valuation model definitiondefinition of kiosksunitary elasticleadership style laissez-fairedemerits of mncefficiency hindi meaningdefine treasury billwhat does vroom meanweber bureaucracywhat does geocentric meanfayol management theoryadvantages and disadvantages of short term sources of financeemploye provident funddebtors turnover ratiocost push theory of inflation definitionteleological and deontological ethicsfinancial retrenchmentdefinition nonverbal communicationwhats a dividendmonopolistic competition productsvertical marketing networkdivested definitiongordon allport personality trait theoryfrictional unemployment defineformula to calculate inventory turnover ratiopizza hut distributiondefinition of pure monopolystratify defdefine payoutwhat is production function in microeconomicswhat is spot transactioninvest defmarginal costing in cost accountingmarginal cost and incremental costwhat is meant by the term entrepreneurb2b e-commerce definitionconcept of classical conditioningsanctuary meaning in urducharacteristics of monopolisticihrm meaningapa itu brand equity