Expected Questions on National Electronic Fund Transfer(NEFT)

Hello and welcome to exampundit. Today we are sharing the most important Banking Awareness Expected Questions on National Electronic Fund Transfer (NEFT). These includes all the features of NEFT including IFSC Code.

Expected Questions on National Electronic Fund Transfer(NEFT)

  1. What does NEFT stands for? – National Electronic Fund Transfer
  2. What type of payment system is NEFT? – Credit-Push System
  3. In which year NEFT started in India? – 2005
  4. Individuals who do not have a bank account (walk-in customers) can also deposit cash at the NEFT-enabled branches upto what amount? – ₹50,000 per transaction
  5. What is the limit for Indo-Nepal Remittance Facility Scheme under NEFT? – ₹50,000 per transaction
  6. What is the minimum limit for NEFT? – No limit
  7. What is the maximum limit for NEFT? – No Limit
  8. Settlements of fund transfer requests in NEFT system is done on _____. – Half-hourly basis
  9. How many half-hourly NEFT settlement batches are there in a working day? – 23
  10. What are the operating hours of NEFT? – 8am to 7pm
  11. What does IFSC stands for? – Indian Financial System Code
  12. How long is the Indian Financial System Code? – 11 Digit Alpha-Numeric Code
  13. What does the first 4 characters represent in Indian Financial System Code? – Representing Bank
  14. Which character is the 0 in Indian Financial System Code? – 5th
  15. Which characters represent the bank branch code in Indian Financial System Code? – last 6 characters
  16. What is the maximum charges for NEFT? – ₹25
  17. ₹25 is the maximum charges for NEFT for transactions over ______. – ₹2 lakhs
Also Read:  Monthly Expected Current Affairs Questions PDF April 2018

 

Get the other Expected Banking Awareness Questions from here.

 

All the best.

 

Regards

Team Exampundit

  • @shukla

    thank you

  • Rashmi

    🙂

  • ohm

    thnx