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.
