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Airtel Payments Bank enables 24x7 NEFT transfers
Airtel Payments Bank enables 24x7 NEFT transfers

New Delhi, Dec 26 (TIWN) Airtel Payments Bank on Thursday said it has enabled 24x7 NEFT transfers in line with the Reserve Bank of India's (RBI) guidelines.

Launched in January 2017, Airtel Payments Bank has a physical presence in all 29 states of the country through its 500,000-plus banking points. Out of these, over 60,000 focus on insurance and pension products in an attempt to reach the underserved. India's first payments bank has a user base of over 40 million customers.  The RBI earlier this month said Airtel Bank customers will be able to transfer funds through NEFT around the clock on all days including weekends and holidays from December 16. After the usual banking hours, these transactions are set to be automated initiated using 'Straight Through Processing (STP)' modes by the banks.

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