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of <h1>NEFT to Introduce Half-Hourly Settlements with 23 Daily Batches for Improved Efficiency Starting July 10, 2017.</h1> The NEFT system, currently processing fund transfers at hourly intervals, will introduce half-hourly settlements to improve efficiency and customer convenience. Starting July 10, 2017, 11 additional settlement batches will be added, increasing the total to 23 daily. The first and last batches at 8:00 am and 7:00 pm remain unchanged. Participating banks must update their systems to accommodate these changes and ensure readiness by the implementation date. Banks are also reminded to send positive confirmations of successful transactions to remittance originators, adhering to existing return discipline and notification procedures as mandated by the Payment and Settlement Systems Act, 2007.
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