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Can a transaction be originated to draw (receive) funds from another account?

April 26, 2017account draw funds originated transaction

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Can a transaction be originated to draw (receive) funds from another account?

2 Answers

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Ans: No. NEFT is a credit-push system i.e., transactions can be originated only to transfer funds to a beneficiary.

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Ans : No. NEFT is a credit-push system i.e., transactions can be originated only to transfer funds to a beneficiary.