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Your email address will not be published.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

quota non probability samplingneft max limitdefinition of kiosksinventory turnover ratio interpretationwhat is markup in accountinghow to calculate inventory turnover ratiomarkup percentage definitiondebtors ratiodefinition of outsourceguerrilla war definitiondashboards definitionmarket challenger strategiespsychoanalytic approach exampleexample of rationingexample of divestiturewhat is the meaning of poachersselective credit control meaningconstant elasticitymonopoly meaning in economicshow to do stratified samplingdefinition of publicity in marketingsubstitution methodideal self definitiondefine consultative leadershiprefreshment traininggrand strategy in strategic managementoligopoly market examples in indiaexplain the difference between accounting profit and economic profitnps investmentformula for fixed asset turnoverpurchasing power parity definitionvertical retailerdistinguish between fiscal deficit and revenue deficitquantitative instruments of monetary policypolycentrism in businessprovident fund act in indiablake and mouton's leadership gridthe 4ps of marketing definitionwhat does straddle meanequi marginal utility definitionwhat is geocentric approachlifestyle segmentation definitionmoral suasion definitionfrederick winslow taylor scientific management theoryarbitrage opportunity definitionguerrilla warfare definemotivation and hygiene factorsjohari window conceptindustrial relation in hrwhat is slr ratiobureaucratic organizational structure definitionoligopoly control over pricearbitrage economicsdrawee bank meaninggolden parachutesclassical bureaucracylearning theory pavlovdefinition retailingsematic differentialtypes of forex riskdefinition stressorvroom victordebtors turnover ratio formula in dayspoach employeesappropriation meaning in telugustrategic hrm processthe blake mouton grid14 principles of management by henri fayolpolycentric pricing strategyconcept of ethnocentrismformula of debtors turnover ratiovertical mergers definitiondeontological ethical theorymgt meaninginvestment multiplier in economicsdefine connotativecamels ratingsexplain the term whistleblowingfixed assets turnover ratio calculatorwhat is ansoff