NEFT system achieved a milestone of processing 4.1 crore transactions on February 29, the highest number of dealings processed in a day so far, the Reserve Bank said on Friday.
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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% and 200%, respectively, in terms of volume and 670% and 104%, respectively, in terms of value.
RTGS system processed its highest-ever volume of 16.25 lakh transactions in a day on March 31, 2023.
(Edited by : Anshul)
First Published: Mar 4, 2024 8:56 AM IST
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