What will happen if credit is not afforded to the account of the beneficiary?
Ans: If it is not possible to afford credit to the account of the beneficiary for whatever reason, destination banks are required to return the transaction (to the originating branch) within two hours of completion of the batch in which the transaction was processed. For example, if a customer submits a fund transfer request at 12.05 p.m. to a NEFT-enabled branch, the branch in turn forwards the message through its pooling centre to the NEFT Clearing Centre for processing in the immediately available batch which (say) is the 1.00 pm batch. The destination bank, if is unable to afford the credit to the beneficiary for any reason, has to return the transaction to the originating bank, not later than in the 3.00 pm batch. The originating branch is expected to afford credit to the originating customer, maybe within the next 30 minutes, (say) by 3.30 pm. To conclude, for all uncredited transactions, customers can reasonably expect the funds to be received back by them in around 3 to 4 hours
