Viewers have been requesting for NEFT timings also. Please find the same enclosed.
NEFT | Weekdays (Mon to Fri) | 09.00 to 17:00 Hrs |
Saturdays | 09.00 to 12:00 Hrs |
NEFT operates on a settlement cycle, and the present settlement cycles, takes place 6 times daily(Monday to Friday), at 9.00am, 11.00am, 12.00noon, 1.00pm, 3.00pm, and 5.00pm. On Saturdays, there are only 3 settlment cylces i.e 9.00am, 11.00am, 12.00noon.
The fastest way to get funds through NEFT, is to execute a payment in the night,(as all banks now offer NEFT facility, through their NET Banking Mode) and the transaction will be settled in the next working day 9.00am batch. Transactions executed after cut-off time, will be in the queue, and will be executed in the immediate settlement cycle.
The beauty of NEFT is that, once the payment is executed, it settles in the subsequently available settlement cycle, without any manual intervention.
2 comments:
I made a NEFT of Rs 6000/= & Rs.2000/= from ICICI bank to Axis Bank and State Bank of India on the night of 14/04/2009.
At around 0700 hrs in the following morning(on 15/04/2009) I got alert from ICICI Bank regarding debit of Rs.6000/= for transfer (no alert was received for Rs.2000/=). I checked up at around 1030 hrs on 15/04/09 and found Rs.6000/- + Rs.2000/- debited from my account.
The worse part, I kept on checking my accounts in Axis bank and SBI till 1630 hrs for clearing but the money was not found credited there.
I faced a similar sitiuation, when I transferred INR 5000/- to SBI account. My account got debited and I got confirmation SMS.
Next day, I recieved another SMS confirming same amount credit back into my ICICI account.
Even after repeated attempts, I am yet to transfer my money from ICICI account.
Not sure what is the problem here..
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