Tuesday, August 23, 2016
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Tuesday, July 9, 2013
Thursday, May 20, 2010
नई पेंशन योजना के लिए कुछ ज़रूरी बातें
some important facts of NPS?
This year, we've got a new tax-saving vehicle to get the Rs 1 lakh tax deduction. After many near misses, the Pension Fund Regulatory and Development Authority (PFRDA) launched the much-awaited New Pension System (NPS) in May 2008.
Its tier I account can build you a snug retirement nest egg, even if you work for the unorganised sector or are self-employed. It invests your money partly in index funds, has the lowest-cost structure in the market-linked space and has a lock-in up to 60 years of age - making it an effective retirement vehicle. However, it's still no match for our age-old trusted retirement vehicles, Employees Provident Fund (EPF) and Public Provident Fund (PPF).
What is NPS?
It is a pure defined contribution product, which has a lock-in till 60 years of age. You can begin with a minimum annual contribution of Rs 6,000.
There are two investment strategies available to you.
Active choice: You can allocate your funds across three fund options: equity (under which you can invest up to 50% in equity index funds), fixed income instruments other than government securities and government securities.
Auto choice: Under this your fund allocation is linked to your age. Till 35 years of age, you get 50% exposure to equity, which tapers off to 10% by age 55.
The six fund managers you can choose from are ICICI (ICICIBANK ) Prudential Pension Fund Management Co. Ltd, IDFC Pension Fund Management Co. Ltd, Kotak (KOTAKBANK) Mahindra Pension Fund Ltd, Reliance Capital Pension Fund Ltd, SBI (SBIN) Pension Funds Pvt Ltd and UTI Retirement Solutions Ltd.
While it is too early to judge the performance of the fund managers, a huge variation is not expected since the funds will primarily invest in debt instruments and the equity component will be restricted to index funds.
On maturity, you get 60% of the fund value as lump sum. The remaining goes into buying an annuity to ensure regular pension. NPS discourages early withdrawal. If you do so, you get only 20% as lump sum and the rest is annuitised.
How does it work?
There are designated points of presence (PoP) that can distribute NPS. Currently there are 22 points of presence. Some of the popular ones are State Bank of India, Central Bank of India, ICICI Bank, Axis Bank, Citibank, Union Bank of India (UNIONBANK.NS : 260.15 -2.9 ) and IDBI Bank (IDBIBANK.NS : 0 0 ).
To open an account, go to one of PoP branches, fill up a form, give your fund preference and make your deposit. This PoP will then send your details to the central record keeping agency (CRA), which will issue you a Permanent Retirement Account Number (Pran). This number is unique to your account and is portable across jobs and locations. You would also be given a telephone and Internet password for fund transfer.
Once this card is issued, the PoP sends the funds to the trustee bank. To make subsequent payments, you would just need your Pran, which can be used at any designated PoP.
Says Rani S. Nair, executive director, PFRDA: "An investor can make contributions in any of the designated branches. However, to make changes in, say, address or fund preference, the customer will have to go to the original branch. In case of a grievance, the customer can approach the CRA and subsequently the PFRDA."
What are the costs?
NPS has two sets of charges-flat and variable. You would need to pay about Rs 470 as flat charges every year, but this is expected to come down as volumes go up. The annual variable charges are custodian and fund management charges-0.0075% (of the fund value) and 0.0009%, respectively. The fund management charges are the lowest in the industry.
What's the tax treatment?
There's no upper limit on the amount that you invest but only 10% of your income is applicable for tax deduction under section 80CCD. However, the deduction would be available subject to a maximum of Rs 1 lakh under section 80C. On maturity, the 60% that you get as lump sum is taxable. The remaining 40% that goes into buying annuity is exempt, but the pension money you would get would be taxable as income in your hands.
What to do?
In its current form, NPS is at a slight disadvantage as compared to other products in the retirement stable. NPS has been given the EET (exempt, exempt, tax) tax status. This means that while your investment is exempt at the time of contribution and at the time of accumulation, it would be taxable at the time of withdrawal.
It is at this point that it loses out to EPF and PPF, which enjoy the EEE (exempt, exempt exempt) tax status. Also, in EPF and PPF, the returns manages to beat mutual fund are guaranteed. But despite the tax shortcoming, NPS pension pension plans and most unit-linked pension plans (ULPP). While ULPPs have EEE status, pension plans by mutual funds are taxed for capital gains.
Pune-based financial planner Veer Sardesai says: "NPS invests your money in an index fund which takes away the risk linked to the performance of the fund manager. However they take a beating in terms of the tax treatment on the maturity amount."
"For effective retirement planning," says Sardesai, "one should exhaust his section 80C with EPF and PPF. If there is still scope, go for NPS instead of MF or insurance pension plans. Beyond 80C, one should look at index funds."
However, if you are not an aggressive investor, then you could look at NPS since it works like a balanced fund. But, once again, do this only after you have exhausted your EPF and PPF benefits.
This year, we've got a new tax-saving vehicle to get the Rs 1 lakh tax deduction. After many near misses, the Pension Fund Regulatory and Development Authority (PFRDA) launched the much-awaited New Pension System (NPS) in May 2008.
Its tier I account can build you a snug retirement nest egg, even if you work for the unorganised sector or are self-employed. It invests your money partly in index funds, has the lowest-cost structure in the market-linked space and has a lock-in up to 60 years of age - making it an effective retirement vehicle. However, it's still no match for our age-old trusted retirement vehicles, Employees Provident Fund (EPF) and Public Provident Fund (PPF).
What is NPS?
It is a pure defined contribution product, which has a lock-in till 60 years of age. You can begin with a minimum annual contribution of Rs 6,000.
There are two investment strategies available to you.
Active choice: You can allocate your funds across three fund options: equity (under which you can invest up to 50% in equity index funds), fixed income instruments other than government securities and government securities.
Auto choice: Under this your fund allocation is linked to your age. Till 35 years of age, you get 50% exposure to equity, which tapers off to 10% by age 55.
The six fund managers you can choose from are ICICI (ICICIBANK ) Prudential Pension Fund Management Co. Ltd, IDFC Pension Fund Management Co. Ltd, Kotak (KOTAKBANK) Mahindra Pension Fund Ltd, Reliance Capital Pension Fund Ltd, SBI (SBIN) Pension Funds Pvt Ltd and UTI Retirement Solutions Ltd.
While it is too early to judge the performance of the fund managers, a huge variation is not expected since the funds will primarily invest in debt instruments and the equity component will be restricted to index funds.
On maturity, you get 60% of the fund value as lump sum. The remaining goes into buying an annuity to ensure regular pension. NPS discourages early withdrawal. If you do so, you get only 20% as lump sum and the rest is annuitised.
How does it work?
There are designated points of presence (PoP) that can distribute NPS. Currently there are 22 points of presence. Some of the popular ones are State Bank of India, Central Bank of India, ICICI Bank, Axis Bank, Citibank, Union Bank of India (UNIONBANK.NS : 260.15 -2.9 ) and IDBI Bank (IDBIBANK.NS : 0 0 ).
To open an account, go to one of PoP branches, fill up a form, give your fund preference and make your deposit. This PoP will then send your details to the central record keeping agency (CRA), which will issue you a Permanent Retirement Account Number (Pran). This number is unique to your account and is portable across jobs and locations. You would also be given a telephone and Internet password for fund transfer.
Once this card is issued, the PoP sends the funds to the trustee bank. To make subsequent payments, you would just need your Pran, which can be used at any designated PoP.
Says Rani S. Nair, executive director, PFRDA: "An investor can make contributions in any of the designated branches. However, to make changes in, say, address or fund preference, the customer will have to go to the original branch. In case of a grievance, the customer can approach the CRA and subsequently the PFRDA."
What are the costs?
NPS has two sets of charges-flat and variable. You would need to pay about Rs 470 as flat charges every year, but this is expected to come down as volumes go up. The annual variable charges are custodian and fund management charges-0.0075% (of the fund value) and 0.0009%, respectively. The fund management charges are the lowest in the industry.
What's the tax treatment?
There's no upper limit on the amount that you invest but only 10% of your income is applicable for tax deduction under section 80CCD. However, the deduction would be available subject to a maximum of Rs 1 lakh under section 80C. On maturity, the 60% that you get as lump sum is taxable. The remaining 40% that goes into buying annuity is exempt, but the pension money you would get would be taxable as income in your hands.
What to do?
In its current form, NPS is at a slight disadvantage as compared to other products in the retirement stable. NPS has been given the EET (exempt, exempt, tax) tax status. This means that while your investment is exempt at the time of contribution and at the time of accumulation, it would be taxable at the time of withdrawal.
It is at this point that it loses out to EPF and PPF, which enjoy the EEE (exempt, exempt exempt) tax status. Also, in EPF and PPF, the returns manages to beat mutual fund are guaranteed. But despite the tax shortcoming, NPS pension pension plans and most unit-linked pension plans (ULPP). While ULPPs have EEE status, pension plans by mutual funds are taxed for capital gains.
Pune-based financial planner Veer Sardesai says: "NPS invests your money in an index fund which takes away the risk linked to the performance of the fund manager. However they take a beating in terms of the tax treatment on the maturity amount."
"For effective retirement planning," says Sardesai, "one should exhaust his section 80C with EPF and PPF. If there is still scope, go for NPS instead of MF or insurance pension plans. Beyond 80C, one should look at index funds."
However, if you are not an aggressive investor, then you could look at NPS since it works like a balanced fund. But, once again, do this only after you have exhausted your EPF and PPF benefits.
क्या आप ग्रीक संकट के बारे में जानते हैं?
Why is Greece in trouble?
The Greek government went on a spending spree during the past decade. Public spending soared and public sector wages practically doubled during that time. Thus while the government was spending away its reserves it was unable to replenish the same through tax collections due to widespread tax evasion. All this has placed a huge strain on the country's economy which is in a state of constant debt.
How big are these debts?
Greece's budget deficit (the amount by which a government's spending exceeds its income) last year was 13.6% of its GDP in 2009 (Gross Domestic Product is the value of all the goods and services produced in a year). This deficit is one of the highest in Europe and more than four times the limit under euro-zone rules.
Greece's high levels of debt mean investors are wary of lending it more money, and demand a higher premium for doing so. This is particularly troublesome as Greece has to re-finance more than 50bn Euros in debt this year. As a result, the country needs as much as 45bn Euros in emergency loans from euro-zone governments and the IMF this year. The IMF loan has been approved subject to the approvals from national governments in euro-zone.
Why is it a concern outside Greece?
The euro-zone, officially the euro area, is an economic and monetary union (EMU) of 16 European Union (EU) member states which have adopted the 'euro' currency as their sole legal tender. It currently consists of Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain.
Everyone in the euro-zone and anyone who trades with the euro-zone is affected because of the impact on the common European currency. The most immediate impact is on the other euro-zone economies who have agreed to loan Greece up to 80 bn Euros over the next year. In other words, taxpayers of these countries will effectively share a part of Greece's burden.
There were also fears that Greece's troubles in the international financial markets may trigger a domino effect, toppling other weak members of the euro-zone, namely Portugal, Ireland, Italy and Spain as well - all of whom face challenges in balancing their books.
Those fears had driven up the interest rates on government debt, meaning it is more expensive for these countries to borrow on the open market. Finally, many major banks have invested in Greek debt. So the economic crisis could affect their shareholders, many of whom are ordinary investors or people who own their shares through pension funds.
What is Greece doing about it?
Greece has outlined plans to cut its budget deficit by 30 bn euros over 3 years. In order to do that, the Greek parliament has approved an initial package of austerity measures to save 4.8bn Euros. It wants to freeze public sector workers' pay and raise taxes, and it has also announced a rise in petrol prices. It also intends to increase the average retirement age in an attempt to save the cash-strapped pensions system.
How has this been received in Greece?
Not too well. There has been a series of public protests, some of them violent. Strikes have hit schools and hospitals and brought public transport to a halt.
Many public sector workers believe that the crisis has been engineered by external forces, such as international speculators and European central bankers.
So what’s the latest development to avert spreading of this crisis to rest of Europe?
To prevent that from happening, the European Union along with the European Central Bank and the International Monetary Fund (IMF) came out with a $962 bn (euro 750 bn) rescue package. The rescue package consists of euro 440 bn in guarantees from euro area states, euro 60 bn in European instruments, and euro 250 bn from the IMF, making for a total of euro 750 bn.
Loans will be given out from this pool of money to those European Union countries that are having trouble with repaying the accumulated debt. The rescue package is just short of $1 trillion at current euro-dollar exchange rates. The idea is to use some of the funds to buy up government bonds, so that the markets for these bonds stabilize.
In addition, the European Central Bank announced buying public and private bonds to lower borrowing costs and increase liquidity.
Meanwhile, the US Federal Reserve restarted its dollar swap operations, in which it offers billions of dollars overseas to boost banks' cash positions in return for foreign currency. Central banks around the world were also involved.
Why is the rescue package being worked out when only Greece is in great trouble?
This rescue effort is being worked out primarily in countries like Germany and France to whose banks the PIIGS economies owe a lot of money. As a matter of fact, Portugal owes Spain — and Spain, in turn, owes a great deal to France and Germany. Italy owes a whopping $511 bn or 20% of its GDP to France and $190 bn to Germany. Spain in turn owes Germany $238 bn and France $220 bn. Ireland owes $184 bn to Germany and $60 bn to France. Portugal owes $47 bn to Germany and $45 bn to France. And the smallest of them all, Greece, owes Germany $45 bn (euro 58 bn) and France $75 bn. Therefore, Greece is not the only country in trouble.
How will this plan work?
The economies in trouble looking to get a loan from the $962 bn pool will have to follow structural reform and fiscal management programs monitored by the IMF. The IMF is known not to lose its money anywhere. One of the norms required from countries using the euro is to maintain a fiscal deficit of less than or equal to 3% of GDP. However to make this plan work one can expect dissent among the people as they would be forced to conform to austerity measures which in turn could have adverse political ramifications for the government.
Could Greece devalue the euro?
One of the ways of handling this problem is currency devaluation. When the currency is devalued it makes goods and the services a lot of more cheaper and hence, more competitive. This in turn would mean the country could export more and earn more dollars or whatever foreign currency they had their debt in. This could then be used to pay off the accumulated debt.
But would this formula work here?
Many of Greece’s most important trading partners share the euro, so there is very little scope for a change in an exchange rate’s value to improve competitiveness. Thus, the only way Greece can improve its competitiveness is through a compression in domestic prices and costs. Thereby products made in the PIIGS countries will become competitive only if they are able to control costs. Controlling costs may mean cutting salaries of employees, which may not be palatable for politicians.
The million dollar question here is ‘Is Europe out of the woods yet’?
The main problems the European economy faces are with rigid labor markets and overblown welfare states. The problems have been compounded by a declining birth rate, which can only be mitigated by allowing freer immigration. Its problems are structural in nature, and these cannot be tackled with financial bailouts.
In fact, the package may create its own recessionary dynamics, since the main conditions attached are that economies with excess debt need to start reducing their public expenditures drastically. The political consequences arising out of this could make things tougher for these countries. Against this backdrop, it would be hasty to conclude that Europe’s troubles are over. It may take a while to set things right.
What can be the likely impact on India?
Some experts are of the opinion that India will be less affected from the downside in global growth due to its relatively balanced economic model with a large contribution from domestic demand to GDP growth. However, it will be important to have stabilization in global capital markets soon, to ensure that the growth momentum is not affected sharply because of reversal in capital inflows
The Greek government went on a spending spree during the past decade. Public spending soared and public sector wages practically doubled during that time. Thus while the government was spending away its reserves it was unable to replenish the same through tax collections due to widespread tax evasion. All this has placed a huge strain on the country's economy which is in a state of constant debt.
How big are these debts?
Greece's budget deficit (the amount by which a government's spending exceeds its income) last year was 13.6% of its GDP in 2009 (Gross Domestic Product is the value of all the goods and services produced in a year). This deficit is one of the highest in Europe and more than four times the limit under euro-zone rules.
Greece's high levels of debt mean investors are wary of lending it more money, and demand a higher premium for doing so. This is particularly troublesome as Greece has to re-finance more than 50bn Euros in debt this year. As a result, the country needs as much as 45bn Euros in emergency loans from euro-zone governments and the IMF this year. The IMF loan has been approved subject to the approvals from national governments in euro-zone.
Why is it a concern outside Greece?
The euro-zone, officially the euro area, is an economic and monetary union (EMU) of 16 European Union (EU) member states which have adopted the 'euro' currency as their sole legal tender. It currently consists of Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain.
Everyone in the euro-zone and anyone who trades with the euro-zone is affected because of the impact on the common European currency. The most immediate impact is on the other euro-zone economies who have agreed to loan Greece up to 80 bn Euros over the next year. In other words, taxpayers of these countries will effectively share a part of Greece's burden.
There were also fears that Greece's troubles in the international financial markets may trigger a domino effect, toppling other weak members of the euro-zone, namely Portugal, Ireland, Italy and Spain as well - all of whom face challenges in balancing their books.
Those fears had driven up the interest rates on government debt, meaning it is more expensive for these countries to borrow on the open market. Finally, many major banks have invested in Greek debt. So the economic crisis could affect their shareholders, many of whom are ordinary investors or people who own their shares through pension funds.
What is Greece doing about it?
Greece has outlined plans to cut its budget deficit by 30 bn euros over 3 years. In order to do that, the Greek parliament has approved an initial package of austerity measures to save 4.8bn Euros. It wants to freeze public sector workers' pay and raise taxes, and it has also announced a rise in petrol prices. It also intends to increase the average retirement age in an attempt to save the cash-strapped pensions system.
How has this been received in Greece?
Not too well. There has been a series of public protests, some of them violent. Strikes have hit schools and hospitals and brought public transport to a halt.
Many public sector workers believe that the crisis has been engineered by external forces, such as international speculators and European central bankers.
So what’s the latest development to avert spreading of this crisis to rest of Europe?
To prevent that from happening, the European Union along with the European Central Bank and the International Monetary Fund (IMF) came out with a $962 bn (euro 750 bn) rescue package. The rescue package consists of euro 440 bn in guarantees from euro area states, euro 60 bn in European instruments, and euro 250 bn from the IMF, making for a total of euro 750 bn.
Loans will be given out from this pool of money to those European Union countries that are having trouble with repaying the accumulated debt. The rescue package is just short of $1 trillion at current euro-dollar exchange rates. The idea is to use some of the funds to buy up government bonds, so that the markets for these bonds stabilize.
In addition, the European Central Bank announced buying public and private bonds to lower borrowing costs and increase liquidity.
Meanwhile, the US Federal Reserve restarted its dollar swap operations, in which it offers billions of dollars overseas to boost banks' cash positions in return for foreign currency. Central banks around the world were also involved.
Why is the rescue package being worked out when only Greece is in great trouble?
This rescue effort is being worked out primarily in countries like Germany and France to whose banks the PIIGS economies owe a lot of money. As a matter of fact, Portugal owes Spain — and Spain, in turn, owes a great deal to France and Germany. Italy owes a whopping $511 bn or 20% of its GDP to France and $190 bn to Germany. Spain in turn owes Germany $238 bn and France $220 bn. Ireland owes $184 bn to Germany and $60 bn to France. Portugal owes $47 bn to Germany and $45 bn to France. And the smallest of them all, Greece, owes Germany $45 bn (euro 58 bn) and France $75 bn. Therefore, Greece is not the only country in trouble.
How will this plan work?
The economies in trouble looking to get a loan from the $962 bn pool will have to follow structural reform and fiscal management programs monitored by the IMF. The IMF is known not to lose its money anywhere. One of the norms required from countries using the euro is to maintain a fiscal deficit of less than or equal to 3% of GDP. However to make this plan work one can expect dissent among the people as they would be forced to conform to austerity measures which in turn could have adverse political ramifications for the government.
Could Greece devalue the euro?
One of the ways of handling this problem is currency devaluation. When the currency is devalued it makes goods and the services a lot of more cheaper and hence, more competitive. This in turn would mean the country could export more and earn more dollars or whatever foreign currency they had their debt in. This could then be used to pay off the accumulated debt.
But would this formula work here?
Many of Greece’s most important trading partners share the euro, so there is very little scope for a change in an exchange rate’s value to improve competitiveness. Thus, the only way Greece can improve its competitiveness is through a compression in domestic prices and costs. Thereby products made in the PIIGS countries will become competitive only if they are able to control costs. Controlling costs may mean cutting salaries of employees, which may not be palatable for politicians.
The million dollar question here is ‘Is Europe out of the woods yet’?
The main problems the European economy faces are with rigid labor markets and overblown welfare states. The problems have been compounded by a declining birth rate, which can only be mitigated by allowing freer immigration. Its problems are structural in nature, and these cannot be tackled with financial bailouts.
In fact, the package may create its own recessionary dynamics, since the main conditions attached are that economies with excess debt need to start reducing their public expenditures drastically. The political consequences arising out of this could make things tougher for these countries. Against this backdrop, it would be hasty to conclude that Europe’s troubles are over. It may take a while to set things right.
What can be the likely impact on India?
Some experts are of the opinion that India will be less affected from the downside in global growth due to its relatively balanced economic model with a large contribution from domestic demand to GDP growth. However, it will be important to have stabilization in global capital markets soon, to ensure that the growth momentum is not affected sharply because of reversal in capital inflows
Tuesday, March 16, 2010
ऑनलाइन मनी ट्रांसफर होने में अब नहीं लगेगा वक्त
एक खाते से दूसरे खाते में फंड ट्रांसफर करने की ऑनलाइन प्रक्रिया अब काफी आसान हो सकती है। भारतीय रिजर्व बैंक ने पहली अप्रैल से इसके लिए बैंकों से लाइसेंस फीस वसूलने का फैसला किया है। ऑनलाइन फंड ट्रांसफर सुविधा चाहने वाले ग्राहकों से अब बैंक भी शुल्क वसूल सकते हैं। फंड के इलेक्ट्रॉनिक ट्रांसफर की सुविधा देने वाले नेशनल इलेक्ट्रॉनिक फंड ट्रांसफर (एनईएफटी) सेवा साल 2005 में लॉन्च की गई थी और तब से लेकर आज तक यह सफल है। इस रूट से हर महीने 60 लाख ट्रांजेक्शन किए जाते हैं। एनईएफटी सेवा उपलब्ध कराने वाले सदस्य बैंकों को आरबीआई ने एक सर्कुलर भेजा है। इसमें बैंकों से कहा गया है कि वे मार्च से एनईएफटी सिस्टम को उपलब्धता, सुविधा, कार्यकुशलता और स्पीड के मामले में बेहतर बनाने की कोशिश करें। इन मापकों को अपनाने के तहत आरबीआई ने बैंकों से कहा है कि वे एनईएफटी सेवा के लिए ऑपरेटिंग हावर्स सुबह नौ बजे से शाम के सात बजे तक निर्धारित करें। शनिवार को इसका समय सुबह नौ बजे से दोपहर एक बजे तक रखा जा सकता है। इस समय एनईएफटी सुविधा सुबह नौ बजे से शाम पांच बजे तक उपलब्ध है। इसके अलावा रिजर्व बैंक ने सदस्य बैंकों से कहा है कि एनईएफटी के तहत होने वाले ट्रांजेक्शन को हर घंटे सेटल किया जाए। इस समय रोजाना छह बार और शनिवार को तीन बैच में इस सुविधा के तहत हुए ट्रांजेक्शन का सेटलमेंट किया जाता है।
एक खाते से दूसरे खाते में फंड ट्रांसफर करने की ऑनलाइन प्रक्रिया अब काफी आसान हो सकती है। भारतीय रिजर्व बैंक ने पहली अप्रैल से इसके लिए बैंकों से लाइसेंस फीस वसूलने का फैसला किया है। ऑनलाइन फंड ट्रांसफर सुविधा चाहने वाले ग्राहकों से अब बैंक भी शुल्क वसूल सकते हैं। फंड के इलेक्ट्रॉनिक ट्रांसफर की सुविधा देने वाले नेशनल इलेक्ट्रॉनिक फंड ट्रांसफर (एनईएफटी) सेवा साल 2005 में लॉन्च की गई थी और तब से लेकर आज तक यह सफल है। इस रूट से हर महीने 60 लाख ट्रांजेक्शन किए जाते हैं। एनईएफटी सेवा उपलब्ध कराने वाले सदस्य बैंकों को आरबीआई ने एक सर्कुलर भेजा है। इसमें बैंकों से कहा गया है कि वे मार्च से एनईएफटी सिस्टम को उपलब्धता, सुविधा, कार्यकुशलता और स्पीड के मामले में बेहतर बनाने की कोशिश करें। इन मापकों को अपनाने के तहत आरबीआई ने बैंकों से कहा है कि वे एनईएफटी सेवा के लिए ऑपरेटिंग हावर्स सुबह नौ बजे से शाम के सात बजे तक निर्धारित करें। शनिवार को इसका समय सुबह नौ बजे से दोपहर एक बजे तक रखा जा सकता है। इस समय एनईएफटी सुविधा सुबह नौ बजे से शाम पांच बजे तक उपलब्ध है। इसके अलावा रिजर्व बैंक ने सदस्य बैंकों से कहा है कि एनईएफटी के तहत होने वाले ट्रांजेक्शन को हर घंटे सेटल किया जाए। इस समय रोजाना छह बार और शनिवार को तीन बैच में इस सुविधा के तहत हुए ट्रांजेक्शन का सेटलमेंट किया जाता है।
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