2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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5
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8
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11
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2
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Detailed explanation-1: -NEFT services are available round the clock, even on holidays. However, these services are settled in batches of half an hour. This means that NEFT transactions are settled in 48 hourly batches, every day. The settlement of the first batch of NEFT transactions begins at 12:30 AM and ends at 12:00 AM.
Detailed explanation-2: -All the NEFT settlement requests are settled in batches once in half hour. Given that there are 24 hours in a day, and 2 batches of NEFT transactions take place in a single hour – the NEFT transactions are settled 48 times a day. The settlement begins at 12:30 AM and stops at 12:00 AM.
Detailed explanation-3: -3. Member banks are advised to note the following: There will be 48 half-hourly batches every day. The settlement of first batch will commence after 00:30 hours and the last batch will end at 00:00 hours.
Detailed explanation-4: -10. What are the operating hours of NEFT? Ans: The NEFT system is available round the clock throughout the year on all days, i.e., on 24x7x365 basis. NEFT presently operates in batches on half-hourly intervals throughout the day.