Is NEFT a real-time fund transfer system?

No, NEFT is not a realtime fund transfer system. NEFT transactions are processed in batches at set times throughout the day, rather than in realtime. NEFT transactions are settled in hourly batches from 8:00 a.m. to 7:00 p.m. on weekdays, and from 8:00 a.m. to 1:00 p.m. on Saturdays. This means that the funds transferred through NEFT may take up to several hours to be credited to the beneficiary's account, depending on the time of day the transaction is initiated.