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The Silicon Review Asia

Airtel Payments Bank Enables 24/7 NEFT

Airtel Payments Bank Enables 24/7 NEFT

Airtel Payments Bank customers can transfer funds via NEFT using the banking section of the Airtel Thanks app or the website of Airtel Payments Bank.

Airtel Payments Bank has enabled 24/7 NEFT transfers on Thursday in accordion with the Reserve Bank of India’s (RBI) guidelines. Airtel Payments Bank customers can now use the National Electronic Funds Transfer (NEFT) facility at any time of the day. The feature will be available 24/7 even on holidays enabling customers to send and receive funds from any bank to any bank anytime, anywhere.

The Airtel Payments Bank customers can transfer funds using NEFT by using the banking section of the Airtel Thanks app or website of Airtel Payments Bank. Users can select the ‘Transfer Money’ option followed by ‘Transfer to Bank’. The user will be redirected to another screen that will ask to fill in the beneficiary details. Once the beneficiary details are successfully added, the customer can choose the amount they want to transfer and easily transfer funds and make payments. Airtel Payments Bank Chief Operating Officer Ganesh Ananthanarayanan said: "We are committed to provide customers with an efficient and smooth banking experience. We welcome the RBI mandate as it will allow our customers to easily transfer the money to any bank account at any time using NEFT mode. This will add to the overall online banking experience for the customers."

Airtel Payments Bank was launched in January 2017 and has branches in all 29 states of India through its 500,000 plus banking points. 60,000 of these focus on insurance and pension products to reach the underserved. It has a user base of over 40 million customers. 

 

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