11.4 lakh transactions settled in 8 hours after RBI operationalises NEFT 24X7

The Reserve Bank has informed that about 11.4 lakh transactions were settled in the first eight hours after the round the clock operation of National Electronic Funds Transfer - NEFT system came into force from 12:00 am today. The RBI said, making NEFT available 24x7 is part of its vision of empowering every Indian with access to a bouquet of e-payment options. Meanwhile, in order to give further impetus to digital retail payments, RBI has asked banks not to levy any charges from account holders...