Question

What is the full form of NEFT ?

Answer 1

Answer:

National Electronic Funds Transfer

Explanation:

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Answer 2

Answer :-

Full form of NEFT is National electronic fund Transfer.

What is NEFT ?

NEFT is a Indiane system of electronic fund transfer from one bank to another.

It was introduced by Reserve Bank of India.It is based on DNS . The full form of DNS is deferred Net settlement which settles transaction in batches. A bank brach must be NEFT -enabled to take part in it.

Process of fund transfer in NEFT :-

It may take one day to transfer fund from one bank to another. Settlement and clearance of funds take place in batches according to guidelines of Reserve Bank of India.

Hope it helps !