On May 23, the neft service will be closed for some time. The RBI has tweeted through its twitter hander that after the end of operations in banks on 22 May, NEFT will not work from 00.01 to 14.00 (12 pm to 2 am) on May 23 due to technical upgradation. But the neft service will continue to work perfectly. Earlier on April 18, a similar technical upgrade has been completed. RBI has also said that member banks can inform their customers about making their payment plans according to the blockage arising in the RBI service on Sunday. NEFT members will continue to receive event updates via NEFT system broadcasts. The National Electronic Funds Transfer System is a payment system operated across the country in which money is transferred from one bank account to another. NEFT is a part of online banking which involves transferring money within minutes. This electronic method transfers money from a bank branch to another person. There is no need to go to a bank branch for this. However, this facility is available only in NEFT enabled bank. There is no maximum or minimum limit for transfer of funds.