Post Reply 
 
Thread Rating:
  • 0 Votes - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5

NEFT

05-06-2012, 07:09 PM
Post: #1
NEFT
Can any body tell me that NEFT is compulsory for Ltd. company to pay salary or insentive through NEFT? If yes please give me RBI Circular No. etc.
Find all posts by this user
Quote this message in a reply
05-06-2012, 10:05 PM
Post: #2
RE: NEFT
guptasumanjpr,

http://rbi.org.in/scripts/NotificationUs...249&Mode=0

Use of electronic mode of payment for large value transactions Recognizing the importance of ensuring the safety and security of the payment systems, Reserve Bank has put in place three modes of electronic payments i.e. Real Time Gross Settlement (RTGS) System, National Electronic Fund Transfer (NEFT) System and Electronic Clearing Service (ECS). Payments through these modes have been steadily growing in the last few years.

RBI/2007–2008/375
DPSS No. 2096 / 04.04.007 / 2007-2008 June 20, 2008

Considering the level of comfort that the electronic payment systems and its users have achieved, it has since been decided to reduce the threshold limit mandated from Rs 1 crore to Rs. 10 lakhs with effect from August 1, 2008.

Rajgopalan
Find all posts by this user
Quote this message in a reply
Post Reply 


Forum Jump:


User(s) browsing this thread: 1 Guest(s)