Question

Answer the questions in about 40 to 60 words.
Expand NEFT. State any two features of NEFT.

Answer 1

(i)NEFT is an electronic payment system that uses a secure mode of tranferring funds from one bank branch to another bank branch.
(ii) There is no minimum or maximum limit of amount of funds that could be transferred using NEFT.
(iii) The remitter can track the NEFT transaction through the originating branch.

Answer 2

$\huge{\mathfrak{Answer \ :-}}$
$<b>$
NEFT => National Electronic Funds Transfer.

$<u>Features :-</u>$

● It is used to transfer funds.

● It has no maximum or minimum limit of amount.

$\huge{\mathfrak{Thanks \ !!}}$