Faridabad: Now, depositing money in your bank account will no more be a tedious job as the Reserve Bank of India is going to introduce a banking service through which one can easily deposit money in their accounts from any bank, whether private or public.

As per the directives of the Central Bank, money can be deposited to accounts thorough any public or private bank via National Electronic Fund Transfer (NEFT) against payment of minimal service tax.

According to the RBI guidelines, money will be credited to your account within two hours through NEFT services at a minimal cost of Rs 3 for transaction upto Rs 10,000 and Rs 6for transactions upto Rs 50,000.

“RBI’s ambitious project NEFT has been a huge success as large numbers of customers are banking through the service. Presently, 91,000 branches of various banks are providing this service,” said Professor Ashish Das of IIT-Mumbai.


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