Since transactions must be paid within 24 hours, NEFT securely eliminates any delays in fund movements. It is not necessary to physically deposit checks or demand drafts or to go to the bank to deposit paperwork. Credit confirmations for transactions are delivered via email or text message (SMS). It is a secure, efficient, and cost-effective way to send money online because the entire procedure is paperless.
Question : What is the full form of NEFT?
Option 1: National Electronic Funds Transfer
Option 2: National Electronic Financial Transaction
Option 3: National Electronic Fund Transfer
Option 4: National Electronic Finance Transaction
Option 4: None of the above
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