Question
To make the NEFT transfer faster the duration of
settlement cycle is now made every:Solution
In line with the document on Vision-2018 for Payment and Settlement Systems, the NEFT settlement cycle will be reduced from hourly batches to half hourly batches. Consequently, 11 additional settlement batches will be introduced at 8.30am onwards, taking the total number of half hourly settlement batches during the day to 23. The starting batch at 8 am and closing batch at 7 pm shall remain the same.
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