CURRENT AFFAIRS

Detailed explanation-1: -The facility will be available to customers on 24x7 basis even on holidays enabling then to receive or send funds to any bank from anywhere, anytime. Airtel Payments Bank customers can transfer funds via NEFT using the banking section of the Airtel Thanks app or website of Airtel Payments Bank.

Detailed explanation-2: -Airtel Payments Bank offers a host of solutions to make digital payments and money transfers including the UPI (Unified Payments Interface), IMPS (Immediate Payment Service), debit card and wallet.

Detailed explanation-3: -All NEFT transactions can be settled within 24 hours. The actual time required for the settlement of these transactions, however, may vary from bank to bank.

Detailed explanation-4: -NEFT is available for use 24×7, 365 days. NEFT transactions that are done post usual banking hours are automated transactions and are initiated using ‘Straight Through Processing (STP)’ by the banks.