24 Jun 2015

Walk in Customers - NEFT through Cash Deposit

RBI has issued Notification about NEFT (National Electronic Fund Transfer) system. With the facility of NEFT, one can transfer the funds to any other bank throughout the country with a minimal charges. The funds are transferred same day or maximum next day.Even individuals who do not have a bank account ('walk-in-customers') can deposit cash, up to a certain limit, at the NEFT-enabled branches with instructions to transfer funds using NEFT. RBI issued that the person who has not bank account also send payments by NEFT by depositing cash in the bank and apply for NEFT. 

RBI issued the BC no. 33/2012 dated 1 November 2012 about the NEFT system against Cash also.

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