Post Office NEFT | Post Office NEFT/RTGS Detailed Instructions | India Post NEFT Mandate Forms and Process Steps in Kannada | Mangaluru Postal Division - Postalstudy | Post Office Blog | Materials for | Exams
2000+ Self Made Questions and Answers have been prepared and posted so for in this site to motivate Postal LDC Exams Aspirants in the form of Quizzes(800+ Questions)/MCQs(900+ Questions)/Matches(400+ Questions)/Can be find in TAG Section.

Header Ads

01/ 02
India Post
02 / 02
India Post

  • Latest Posts

    Post Office NEFT | Post Office NEFT/RTGS Detailed Instructions | India Post NEFT Mandate Forms and Process Steps in Kannada | Mangaluru Postal Division

    Introduction of NEFT/RTGS facility for POSB Account holders - reg.

    Download Post Office NEFT Detailed Instructions in PDF Prepared by Mangaluru Postal Division

    As per SB Order 08/2022 dated 17.05.2022 and 18.05.2022 the NEFT/ RTGS facility will be operational for POSB Account holders with effect from 18.05.2022. This facility will be very much useful for the SB Account holders. The gist of the facility are as below:


    1. NEFT/ RTGS

    NEFT (National Electronic Fund Transfer) is RBI operated interbank payment system. Under this scheme individuals can electronically transfer funds from any bank branch or channels to any other individual having an account with any other bank branch in the country participating in the scheme.


    RTGS (Real Time Gross Settlement) is defined as the continuous and real time settlement of fund transfers, individually on a transaction without netting or grouping. Real Time means the processing of instructions at the time they are received. Gross Settlement means the settlement of fund transfer instructions occurs individually. RTGS transactions are available 24*7*365.


    2. NEFT/ RTGS facility at Post Offices / Online

    a. NEFT/ RTGS facility for Account holders across the counter at Post Offices:

    The walk-in customers by just visiting any of the Post Office can avail NEFT/ RTGS facility. The following are the features:


    1. Customer should have an active Post Office Savings Account to initiate outward NEFT remittance to other Bank Accounts.

    2. Account holder need not activate Net-banking facility in the system.

    3. Account holder will submit filled NEFT/ RTGS mandate form along with withdrawal slip (SB-7) or POSB cheque and present across the counter at Post Office.

    4. In case of Joint ‘A’ type , both the Account holders shall sign the NEFT mandate form.

    5. Service charges for each NEFT/RTGS transaction initiated across the counter of Post Office will be deducted from SB Account.



    Like and Share

    Click here to Join Telegram Channel

    No comments

    It's all about friendly conversation here at postalstudy. I'd love to hear your thoughts!
    Be sure to check back again because I do make every effort to reply to your comments here.