National Electronic Funds Transfer (NEFT) is a nation-wide system that facilitates individuals to electronically transfer funds from any bank branch to any other bank branch in India. As more and more bank branches are connected online this system has been a huge success in India for online fund transfers. High penetration of internet and computers has also added to its success
NIFT timings have been revised from time to time by the Reserve bank of India. Presently since March 2010, NEFT operates in batches from 9 AM to 7 PM on weekdays and 9 AM to 1 PM on Saturday.
There are hourly eleven settlements from 9 AM to 7 PM on weekdays and five hourly settlements from 9 AM to 1 PM on Saturdays.