NEFT New Features from 01/March/2010 - Part 3d

From today, the new features in NEFT have gone live.

NEFT users would benefit from the extended NEFT timings of 9.00am to 7.00pm.

Individual Banks cut-off would be 9.00am to 6.30pm. Still, a two hour increase over the earlier timings.

Of course in the initial stages, the volumes would be low. But, I am sure the volumes will increase over the next couple of months. 

The majority of such transactions will originate from Non-Branch Channels, i.e Internet, Mobile, ATM's.

I am still not sure whether any Bank has already implemented the SMS/Email confirmation part.

However, all Banks will implement the  SMS/Email confirmation part, once the customers complaint start rolling in.