

NEFT is an electronic funds transfer system in India that enables individuals and businesses to transfer money between bank accounts in batches at scheduled intervals through a centralised settlement mechanism.

NEFT transactions are processed in half-hourly batches throughout the day. The sender initiates a transfer using the beneficiary’s bank details and IFSC code. Funds are settled in the next available batch and credited to the recipient’s account. NEFT operates 24×7, including bank holidays, making it suitable for routine business and personal transfers where real-time settlement is not mandatory.
NEFT is widely used for vendor payments, salary disbursements, and statutory payments due to its reliability and broad bank coverage. It supports predictable settlement timelines and low transaction costs. For finance teams, NEFT offers a dependable channel for planned payments that do not require instant confirmation, helping manage cash flows efficiently.
Businesses often use NEFT alongside other payment modes to balance speed and cost. EnKash supports structured payment workflows that help finance teams initiate, track, and reconcile NEFT transactions centrally. This improves visibility across bank transfers and reduces manual follow-ups during reconciliation and audits.