Team Blitz India
NEW DELHI: National Electronic Funds Transfer (NEFT) system has achieved a milestone onFebruary 29 by processing 4.10 crore transactions, the highest ever in a day so far.
The precise number was 4 crore 10 lakh sixty-one thousand three hundred and thirty-seven, which was announcedby the Reserve Bank of India (RBI) on March 2.
In the past ten years (i.e., between 2014 to 2023), NEFT and RTGSsystems registered growth of 700 per cent and 200 per cent, respectively in terms of volume. In terms of value, these figures were 670 per cent and 104 per cent, respectively, showed RBI data.
RBI manages NEFT and RTGS systems to settle the retail and wholesale payments, respectively.
