India's NEFT system processed a record 4.1 crore transactions on February 29, exceeding previous records. Learn more about the growth of NEFT and RTGS systems in recent years.
Illustration: Dominic Xavier/Rediff.com
Mumbai, Mar 1 (PTI) NEFT system achieved a milestone of processing 4,10,61,337 transactions on February 29, the highest number of dealings processed in a day so far, the Reserve Bank said on Friday.
The National Electronic Funds Transfer (NEFT) system and Real Time Gross Settlement (RTGS) system are being managed by the Reserve Bank to settle retail and wholesale payments, respectively.
The RBI said that during the previous ten years (2014-23), NEFT and RTGS systems have registered a growth of 700 per cent and 200 per cent, respectively, in terms of volume and 670 per cent and 104 per cent, respectively, in terms of value.
RTGS system processed its highest-ever volume of 16.25 lakh transactions in a day on March 31, 2023.
Home » Market News » NEFT System Hits Record 4.1 Crore Transactions in a Day
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback