NEFT or National Electronic Funds Transfer allows transferring of funds of up to 2 lakhs 24 hours in a day.
The processing fee which earlier was between Re. 1 and Rs. 5 has been changed to lesser or none by RBI.
Here are certain benefits of 24×7 NEFT Transactions for small businesses:
- Being available 24×7 will help businesses to send and receive funds at anytime.
- This helps them improve the cashflows and not wait for the banking hours or the NEFT window to make transactions.
- The money is transferred within 2-24 hours.
- This will help business function faster and better without waiting for ‘working days’ to make transactions.
This makes it more convenient for small businesses to carry out financial transactions whenever required.
If you need funds to meet the day to day cashflow requirements, do get in touch for Gromor Finance to explore our lending options at affordable interest rates!