What is the full form of NEFT?
A. National Electronic Funds Transfer
B. National email Fund transfer
C. Neutral electronic fund transfer
D. None of these
Answer:A
What is the full form of NEFT?
A. National Electronic Funds Transfer B. National email Fund transfer C. Neutral electronic fund transfer D. None of these
Explanation: The full form of NIIF is National Investment and Infrastructure Fund.National Electronic Funds Transfer (NEFT) is an electronic funds transfer system maintained by the Reserve Bank of India (RBI). Started in November 2005, the setup was established and maintained by Institute for Development and Research in Banking Technology (IDRBT). NEFT enables bank customers in India to transfer funds between any two NEFT-enabled bank accounts on a one-to-one basis. Banks to incur zero cost for NEFT, RTGS transactions from July 1, 2019.