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True or False: NEFT service is available on all days on a 24 × 7 × 365 basis. Currently, NEFT runs in batches every half hour throughout the day.

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Question

True or False:

NEFT service is available on all days on a 24 × 7 × 365 basis. Currently, NEFT runs in batches every half hour throughout the day.

True or False
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Solution

True

Explanation:

NEFT is available 24 × 7 × 365, and transactions are settled in batches at half-hourly intervals.

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Chapter 4: Banking - Latest Trends - EXERCISES [Page 103]

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C. B. Gupta Commerce Volume 2 [English] Class 12 ISC
Chapter 4 Banking - Latest Trends
EXERCISES | Q I. 44. | Page 103
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