Difference between neft and necs

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 January 2013 Dear sir/madam,

please clarify the following,

what is the intention behind introducing new NECS

and what is the difference between NEFT and NECS.





09 January 2013 One is for FUND transfer another is for CLEARING. Both the functions are different from each other.

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 January 2013 thank you sir,

is the NEFT now working or NECS has been replaced in place of NEFT.

10 January 2013 both the systems are INDEPENDENT of each other. Let us say I want to transfer FUNDS from my side to YOU. In addition to other methods, I can use NEFT subject to its limitations. NECS is meant for CLEARING house system.


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