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NEFT Full Form in Hindi

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NEFT full form in Hindi is National Electronics Fund Transfer or it is also called "National Electronic Funds Transfer" in Hindi. It is a nationwide electronic fund transfer system whereby money is sent and received easily from one bank account to another bank account. All NEFT settlements are handled in a batch-wise format. In this, the money is sent on an individual basis to all NEFT-enabled banks all over India through this system. Before starting any NEFT transfer, it is very important for the bank to have an IFSC code, along with it, it is very important to have other details such as bank account number, bank branch, account holder name.

This fund transfer system is operated by the RBI (RBI). Which started in 2005. NEFT provides this facility to the bank's customers in India, so that the bank's customer can very easily transfer their capital to another NEFT enabled bank account. It is also very safe.

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