Which of the following is not true about National Electronic Funds Transfer (NEFT) system?
1
There is no limit on transaction through NEFT
2
NEFT operates in hourly batches.
3
NEFT is a payment system which facilitates one-to-one funds transfer.
4
Only bank branches which are NEFT enabled, can be a part of the NEFT funds transfer network.
5
All of the above are correct