neft

All about National Electronic Funds Transfer (NEFT)

Finance - National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer. Under this Scheme, individuals, firms and corporates can electronically transfer funds from any bank branch to any individual, firm or corporate having an account with any other bank branch in the country participating in the ...

Read More

How to Pay MCA 21 Fees / ROC fees Via NEFT (Updated)

Finance - Currently MCA21 payments are allowed via Credit Card, Internet Banking & Physical Challan. The Ministry has authorized 5 banks (Indian Bank, HDFC, ICICI, PNB and SBI) for collection of MCA21 fees, which means that only the account holders of these banks can avail Internet banking facility. Further, payment via challan can only be made in ...

Read More

RBI to phase out high value clearing for Cheques drawn over 1 Lakh Rupees

Finance - High value clearing, the facility that enables depositors to encash cheques drawn for over Rs 1 lakh the next day, is set to be phased out. The Reserve Bank of India (RBI) has increased the minimum value for high value clearing to Rs 5 lakh from May. This will be increased further to Rs 10 […]...

Read More

RBI asks Banks to cap cash deposit charges at Rs 5

Finance - The Reserve Bank of India (RBI) has told banks not to charge more than Rs 5 for any cash deposit made at a non-home branch (other than the one where the customer has the account). Some banks charge as much as Rs 110 for such cash deposits. ...

Read More

RBI Asks Banks to Promote E-Payment Options

Finance - The Reserve Bank of India, or RBI, has told a bunch of top bank executives to push the use of electronic transactions among customers to trim the serpentine queues in front of teller counters despite lakhs of automated teller machines and net banking...

Read More

Highvalue Cheque Limit increased to 5 Lakh

Finance - One lakh rupees is no longer considered ‘high value’ in banking parlance. Until recently, a cheque amounting to over a lakh was considered high value and would be swiftly cleared on the same day itself, if deposited before 11 am. Now that a lakh is no longer what it used to be, although it can still buy you […]...

Read More

RBI to phase out high value clearing for Cheques drawn over 1 Lakh Rupees

Finance - High value clearing, the facility that enables depositors to encash cheques drawn for over Rs 1 lakh the next day, is set to be phased out. The Reserve Bank of India (RBI) has increased the minimum value for high value clearing to Rs 5 lakh from May. This will be increased further to Rs 10 […]...

Read More

RBI Caps E-Payment Charges

Finance - The Reserve Bank of India (RBI) has capped fees charged by banks for electronic payment (e-payment) and collection of outstation cheques. The move is aimed at popularising electronic payments and discouraging higher charges levied by banks on customers....

Read More
Sorry No Post Found

RBI taken step to expand RTGS and NEFT facility to more banks

RBI/2011-12/489 DPSS.CO.OD. 1848 /06.07.003/2011-2012 - (09/04/2012) - Under the overall guidance of the Board for Payment and Settlement Systems, the Reserve Bank over the last few years, has been taking a number of steps to popularise the electronic payment systems in the country. In this connection, a reference is invited to circular DPSS.CO.OD.494/04.04.009/2011-20...

Read More

RTGS System – Use of NEFT Customer Facilitation Centers

RBI/2010-11/327, DPSS (CO) RTGS No. 1433/04.04.002/2010-2011 - (24/12/2010) - You are aware that there has been a remarkable growth of customer transactions in RTGS over the years, with currently more than 1,50,000 customer transactions being settled on a daily average in the RTGS system. As the RTGS system handles large value and time critical transactions, all member banks ...

Read More

Opening of Current Account and Subsidiary General Ledger Account with Reserve Bank and Membership of Indian Financial Network (INFINET) and Real Time Gross Settlement (RTGS) System

RBI/2010-11/277 UBD.BPD. (PCB).Cir. No.24/12.05.001/2010-11 - (16/11/2010) - In the Second Quarter Review of Monetary Policy of the Reserve Bank of India for the Year 2010-11, it was announced that Urban Co-operative Banks (UCBs) would be allowed current account and SGL account with the Reserve Bank as also membership of INFINET and RTGS. The relevant paragraph of the Review...

Read More

Electronic Payment Products – Processing Inward Transactions based soley on Account Number Information

RBI/2010-11/271 UBD. BPD (PCB) No. 20 /12.05.001/2010-11 - (12/11/2010) - In this connection, we enclose a copy of the circular DPSS. (CO). EPPD. No.863 / 04.03.01 / 2010-11 dated October 14, 2010 issued by the Department of Payment and Settlement Systems of the Reserve Bank of India. All Primary (Urban) Co-operative Banks are advised to put in place appropriate systems ...

Read More

Electronic Funds Transfer Infrastructure in India – Usage of RTGS and NEFT

RBI/2010-11/265 DPSS (CO) RTGS No.1051/04.04.002/2010-2011 - (09/11/2010) - Based on requests received from the participant member banks, it is clarified that the revised customer charges for the transactions routed through RTGS are applicable for amounts starting from ` 2 lakhs and above....

Read More

Recent Posts in "neft"

All about National Electronic Funds Transfer (NEFT)

National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer. Under this Scheme, individuals, firms and corporates can electronically transfer funds from any bank branch to any individual, firm or corporate having an account with any other bank branch in the country participating in the ...

Read More
Posted Under: Fema / RBI | ,

RBI taken step to expand RTGS and NEFT facility to more banks

RBI/2011-12/489 DPSS.CO.OD. 1848 /06.07.003/2011-2012 (09/04/2012)

Under the overall guidance of the Board for Payment and Settlement Systems, the Reserve Bank over the last few years, has been taking a number of steps to popularise the electronic payment systems in the country. In this connection, a reference is invited to circular DPSS.CO.OD.494/04.04.009/2011-2012 dated September 21, 2011, in terms of...

Read More

How to Pay MCA 21 Fees / ROC fees Via NEFT (Updated)

Currently MCA21 payments are allowed via Credit Card, Internet Banking & Physical Challan. The Ministry has authorized 5 banks (Indian Bank, HDFC, ICICI, PNB and SBI) for collection of MCA21 fees, which means that only the account holders of these banks can avail Internet banking facility. Further, payment via challan can only be made in ...

Read More
Posted Under: Fema / RBI |

RBI asks Banks to cap cash deposit charges at Rs 5

The Reserve Bank of India (RBI) has told banks not to charge more than Rs 5 for any cash deposit made at a non-home branch (other than the one where the customer has the account). Some banks charge as much as Rs 110 for such cash deposits. ...

Read More
Posted Under: Fema / RBI |

RTGS System – Use of NEFT Customer Facilitation Centers

RBI/2010-11/327, DPSS (CO) RTGS No. 1433/04.04.002/2010-2011 (24/12/2010)

You are aware that there has been a remarkable growth of customer transactions in RTGS over the years, with currently more than 1,50,000 customer transactions being settled on a daily average in the RTGS system. As the RTGS system handles large value and time critical transactions, all member banks need to address the customer complaints ...

Read More

Opening of Current Account and Subsidiary General Ledger Account with Reserve Bank and Membership of Indian Financial Network (INFINET) and Real Time Gross Settlement (RTGS) System

RBI/2010-11/277 UBD.BPD. (PCB).Cir. No.24/12.05.001/2010-11 (16/11/2010)

In the Second Quarter Review of Monetary Policy of the Reserve Bank of India for the Year 2010-11, it was announced that Urban Co-operative Banks (UCBs) would be allowed current account and SGL account with the Reserve Bank as also membership of INFINET and RTGS. The relevant paragraph of the Review is reproduced below....

Read More

Electronic Payment Products – Processing Inward Transactions based soley on Account Number Information

RBI/2010-11/271 UBD. BPD (PCB) No. 20 /12.05.001/2010-11 (12/11/2010)

In this connection, we enclose a copy of the circular DPSS. (CO). EPPD. No.863 / 04.03.01 / 2010-11 dated October 14, 2010 issued by the Department of Payment and Settlement Systems of the Reserve Bank of India. All Primary (Urban) Co-operative Banks are advised to put in place appropriate systems and procedures to ensure compliance with...

Read More

Electronic Funds Transfer Infrastructure in India – Usage of RTGS and NEFT

RBI/2010-11/265 DPSS (CO) RTGS No.1051/04.04.002/2010-2011 (09/11/2010)

Based on requests received from the participant member banks, it is clarified that the revised customer charges for the transactions routed through RTGS are applicable for amounts starting from ` 2 lakhs and above....

Read More

RBI Asks Banks to Promote E-Payment Options

The Reserve Bank of India, or RBI, has told a bunch of top bank executives to push the use of electronic transactions among customers to trim the serpentine queues in front of teller counters despite lakhs of automated teller machines and net banking...

Read More
Posted Under: Fema / RBI |

UCBs – Furnishing Remitter Details in Pass Book/Pass Sheet/Account Statement for Credits received by Customers through NEFT/NECS/ECS

RBI/2010-11/244 UBD. CO. BPD (PCB) No. 18 /12.05.001/2010-11 (26/10/2010)

Complaints about incomplete details about the remitter (or beneficiary) and / or the source of credit (or debit) in the pass books / pass sheets / account statements, as also lack of uniformity across banks in providing even such minimal information are rising. A very generic mention as 'NEFT' or 'NECS' does not help customers in identify...

Read More
Page 1 of 212

Browse All Categories

CA, CS, CMA (3,525)
Company Law (3,466)
Custom Duty (6,674)
DGFT (3,501)
Excise Duty (4,051)
Fema / RBI (3,292)
Finance (3,503)
Income Tax (25,350)
SEBI (2,758)
Service Tax (3,288)

Search Posts by Date

November 2017
M T W T F S S
« Oct    
 12345
6789101112
13141516171819
20212223242526
27282930