BUSINESS ADMINISTRATION
BUSINESS POLICY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Date only
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Time only
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Date and Time
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Custom property
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Detailed explanation-1: -Yes, NEFT transfer is immediate. It is a feature of the Indian banking system’s electronic fund transfer system. It enables immediate money transfers to payee bank accounts. The consumers have access to this service around-the-clock.
Detailed explanation-2: -NEFT. Regulated by the Reserve Bank of India, NEFT or National Electronic Funds Transfer is an electronic method of transferring money online. Most Indian banks provide the NEFT feature on internet banking and mobile banking. Money transfer made through NEFT does not require any additional transaction costs.
Detailed explanation-3: -A transfer is usually initiated from one bank or financial institution to another. Rather than cash, the participating institutions share information about the recipient, the bank receiving account number, and the amount transferred. The sender pays for the transaction upfront at their bank.