Most of us would have, knowingly or unknowingly, used the National Electronic Funds Transfer (NEFT) system to facilitate online transfer of funds from any bank branch to any other bank branch within India. Since NEFT forms the backbone for a good percentage of our financial transactions, it’s good to have some in depth knowledge on how this system operates.
Click here to read the Reserve Bank of India’s guide to the NEFT system.
Awareness Fridays is my new initiative to spread awareness on topics relevant to personal finance — every Friday. I urge you to take some time off and absorb this information — it’s pretty useful. And, as always, do spread the word if you find this useful.