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COMMUNICATION NETWORKS

Electronic Funds Transfer (EFT) System:

EFT System hosted and operated by the RBI, permits transfer of funds, upto Rs. 5 lacs from any account at any branch of any member bank in any city to any other account at any branch of any member bank in any other city. This system utilises the Service Branches of the member banks and the nodal offices of RBI. RBINET is the  conduit for the flow of funds. The Reserve Bank of India acts as the service provider as well as regulator.

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