April 26, 2023

NEFT Holidays 2022

Just to simply know about a forthcoming event, gives us a sense of control, sense of preparedness to deal with the event as and when it occurs and some peace of mind, isn't it?.
Be it your weekly weather forecast report or monthly sales target or festival holidays or your bank holiday list, knowing the details in advance gives you 'inner peace'.
In the context of banking, even though we are in era of digital banking which allows every time, everywhere banking wherein customers can avail services 247365 with just a click, knowing that your bank branch would remain closed on certain days is helpful, is useful to us.
Let us take a look at the NEFT holiday list, as a precursor to that, let us understand the concept of the digital banking transaction/payment channel, NEFT (National Electronic Funds Transfer).
Introduced in November 2005 by the RBI, NEFT allows retail customers across India to transfer funds electronically from one NEFT bank branch enabled account to either the same or any other bank within India. The NEFT service is available 24x7 ( with effect from Dec 16, 2019 as per RBI guidelines).
There is no need to visit the bank branch as
NEFT transfers are made through digital channels (net banking and mobile banking) everytime, everywhere, everyone.
Besides, the NEFT facility can also be availed for making credit card payments and for payment of loan EMI.

NEFT holiday list for 2022*

The RBI publishes the annual NEFT holiday list of the current year on the last day of the previous year.
The holiday list for calendar year 2022 is as follows.
  • Republic Day - 26th January
  • Bank’s Annual Closing- 1st April
  • Good Friday- 15th April
  • Ramadan Eid- 3rd May
  • Independence Day- 15th August
  • Gandhi Jayanti- 2nd October
  • Christmas Day- 25th December
*The dates are subject to change each year
Frequently Asked Questions (FAQs):

Q. What happens to an NEFT transaction executed on say a holiday or Sunday?

It is important to note that all NEFT transactions executed on NEFT declared holidays or Sundays or 2nd, 4th Saturday would be debited from the sender's account on the same day, however, will only be credited to the beneficiary’s account on the next working day.

Q. What are the NEFT fund transfer timings?

As per the RBI's guidelines, NEFT transactions can be executed 24*7 ( with effect from 2020).
Q. What are NEFT transaction charges?
In case of NEFT payment via digital channels, there are no charges applicable.
However, if the NEFT payment is carried out from any of the bank branches, then depending upon the amount transferred, transaction charges along with GST are applicable.
For example:
  • NEFT transfer upto ₹10,000, the transaction charge is ₹2.25 + Applicable GST.
    • For fund transfers above ₹10,000 and upto ₹1 lakh, the transaction charge is pegged at ₹4.75 + Applicable GST.
    • Above ₹1 lakh and upto ₹2 lakh, the fee is ₹14.75 + Applicable GST
    • Above ₹2 lakh and upto ₹10 lakh, the fee is ₹24.75 + Applicable GST

Q. What are the transaction limits for NEFT?

The RBI has not prescribed any minimum or maximum limit for transfer funds from one bank account to another via NEFT.
A customer can even transfer ₹1/- amount to the beneficiary.
However, individual banks have set their daily maximum threshold limits.

Never miss a trading opportunity with Margin Trading Facility

Enjoy 2X leverage on over 900+ stocks

Upstox Margin Trading Facility
Apple Logo
Downloadlogo
iOS App
Google Play Logo
Downloadlogo
Android App

RELATED ARTICLES

Bandhan Bank-Gruh Finance merger

In January 2019, Bandhan Bank, one of India's leading private sector banks, announced the acquisition of Gruh Finance, a subsidiary of the erstwhile Housing Development Finance Corporation Ltd. (HDFC). The merger brought together two companies with complementary strengths and expertise. In this article, we will look at the history of both the companies and the reasons behind the merger. The merger was seen as a strategic move for Bandhan Bank, which sought to diversify its loan portfolio and expand into new markets. By acquiring Gruh Finance, Bandhan Bank gained access to a well-established network of branches and customers in the affordable housing finance segment, a key growth area in India's banking sector. The merger was completed in October 2019, with Gruh Finance becoming a wholly-owned subsidiary of Bandhan Bank. As part of the deal, HDFC Ltd. received a 15% stake in Bandhan Bank's Gruh finance, making it one of the largest shareholders in the bank.

HDFC Bank Balance Enquiry Toll Free Number and How to Check

| HDFC Bank Account Balance Check Number | 1800-270-3333 | | --- | --- | Are you an HDFC Bank customer trying to keep track of your account balance but need help figuring out how to do it? Don't worry; you're not alone! In this blog post, we will provide a step-by-step guide on how to check your HDFC Bank balance quickly and easily. Let's jump right in:

ATM Cash Withdrawal Limits of India's Top Banks

As an individual, it's essential to have access to cash when you need it. One way to do this is through ATMs, which allow you to withdraw money from your bank account anytime, day or night. However, there are limits to how much cash you can withdraw from an ATM in a single transaction or within a certain timeframe. These limits vary from bank to bank and can affect your ability to access the cash you need. In this blog post, we'll be comparing the ATM cash withdrawal limits of some of India's top banks. By the end of this post, you'll better understand ATM cash withdrawal limits.

Canara Bank Net Banking - Login, Registrations, & Activation

Canara Bank is one of India's prominent public sector banks, the third largest nationalised bank with a large domestic footprint and also presence in the overseas markets (Newyork, London, Dubai and Hong Kong). Founded in 1906 and headquartered in Bangalore, the bank has an asset base of ₹1,153,675 crore ( FY2021) and offers a whole range of products and services ranging from retail, commercial, private banking to asset management to investment banking to credit cards, mortgages and pension. The Government of India is its majority shareholder with 69.33% stake. Canara Bank offers a wide range on Internet Banking services ranging from enquiry about the balance in his/her account(s), details about transactions, Statement of Account Request for issue of cheque-books to Request for transfer of funds to own/third party accounts within Canara Bank and to other Bank accounts, TDS enquiry, Income Tax e-filing, tax payments and much more can be availed by the customer 247365. You can register for Canara Bank netbanking services through a number of mediums provided you have an active account with the bank branch. For example to activate your Canara Bank netbanking services account: - Visit the nearest Canara Bank branch and fill up the application form with all relevant details. The bank would typically courier the net banking details ( user id and password) on the registered mailing address. Or - You may download the net banking app from the Canara Bank's web portal, http://online.canarabank.in - You can then fill up the application form and submit it to your Canara Bank branch. - Once the application is processed, you will receive the login details.on your registered mailing address. Once you have the login details you can now activate your account. - You will receive an SMS from Canara Bank containing the verification key and activation code. - Now login to Canara Bank's web portal and press the "New Registration" tab. - You will be directed to the net banking terms and conditions page. - Press the "I Agree" option to move on to the next step. - Type the details as indicated on the registration page pertaining to your account number, registered mobile number, debit card number and customer ID provided by the bank. - Once you have typed the details, the bank will send you an OTP on your registered mobile number. - Type your mobile number in the [OTP](https://upstox.com/banking/what-is-otp-one-time-password-meaning-full-form-messages/) authentication page and click "Submit". - At this stage, you will then be required to create a password for your net banking transactions. Once you have created your cryptic password, click on submit to complete the activation process. - When the activation process is complete, you will be redirected to the Canara Bank internet banking home page. - Click on "Login to NetBanking" and enter your User ID and newly created password. - Now enter your debit card number, expiry date on the card and ATM PIN. - You will receive another OTP from the bank on your registered mobile number, which should be typed to create a transaction password - And finally, after creating a transaction password, your net banking activation process is complete and you can now avail the net Banking services of Canara Bank.