ICSE Class 10 Commerce 2019 Solved Papers

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Question : 16
Total: 31
What is 'National Electronic Fund Transfer'?
Solution:  
National Electronic Fund Transfer (NEFT) : NEFT is a nation-wide payment system facilitating one-to-one fund transfer. Under this scheme, individuals, firms and corporates can electronically transfer funds from any bank branch to any individual, firm or corporate having an account with any other branch in the country participating in the scheme.
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