Expand NEFT. State any two feature of NEFT.
Answers
Hello..
NEFT stands for National Electronic Funds Transfer.
Features of NEFT :-
(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.
hope it helps..
Answer:
National Electronic Funds Transfer (NEFT) is associated to deliver right features of remittance of funds. It has been consider with lots of features made according to the requirements.
The features are listed as electronic payment system uses a secure mode of transmitting funds. Also, there is no minimum or maximum limit of amount of funds transferred using NEFT.
Explanation: