NEFT Cut off Time

It is very important that one knows the correct NEFT cut off time to execute the same with in time limit to see the transaction been carried out successfully. Hope the above screenshot which has been taken from the NEFT cut off time for ICICI bank and same is equally applicable for all banks as it is mandated by RBI. So remember that all days less Saturday and Sunday remember to complete NEFT by 6:30 PM or 1830 hours or by 12:30 PM on Saturdays.

Proposal

Govt/RBI should make this facility round the clock and should provide an incentive for using the facility as atleast two banks are being avoided to deal with a client directly in case of transfer of amount to a different bank from the client account. The kind of load which is seen at least with in the banks will reduce partially. So offer an incentive and if you can not do so at least do not charge. Moreover this will also save the man hours of standing in lines and cursing the system. This will further increase the net intelligence of users which means that we have more intelligent society who is net enabled and compatible. This one small step has lot of benefits which must be seen in the light of ovrall growth of our nation to make India a force to reckon with as by year 2025 we want to be in the league of developed nation. Hope some one is listening as a NEFT charge of Rs 5 will not make a difference for mamoth banks.