Banking Exams Exam  >  Banking Exams Questions  >  NEFT stands fora)Non-Electronic Fund Transfer... Start Learning for Free
NEFT stands for
  • a)
    Non-Electronic Fund Transfer
  • b)
    National Electronic Funds Transfer
  • c)
    National Electronic Finance Transfer
  • d)
    New Electronic Funds Transmission
  • e)
    None of these
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
NEFT stands fora)Non-Electronic Fund Transferb)National Electronic Fun...
NEFT (National Electronic Funds Transfer) enables funds transfer from one bank to another but works a bit differently than RTGS since the settlement takes place in batches rather than individually, making NEFT slower than RTGS.
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NEFT stands fora)Non-Electronic Fund Transferb)National Electronic Funds Transferc)National Electronic Finance Transferd)New Electronic Funds Transmissione)None of theseCorrect answer is option 'B'. Can you explain this answer?
Question Description
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