On February 29, 2024, India's NEFT system processed over 4 crore transactions, a record high, per RBI.
The National Electronic Funds Transfer (NEFT) system in India achieved a record-high milestone by processing over 4 crore transactions in a single day on February 29, 2024, according to the Reserve Bank of India (RBI). NEFT and its sister system, the Real Time Gross Settlement (RTGS), have experienced substantial growth in the past decade, with NEFT transactions growing by 700% and RTGS transactions increasing by 200%. Both systems facilitate retail and wholesale payments, respectively, and operate 24/7.
March 01, 2024
13 Articles