Domestic
PAYMENTS SIGNAL · REFERENCE CARDIndia NEFT
A rupee transfer from one customer to another over the Reserve Bank of India's NEFT system, which settles net in half-hourly batches rather than one payment at a time.
Actors
- Riya (remitter)customer
- Bank Alfa (remitting bank)bank
- NEFT (Reserve Bank of India)infrastructure
- Nordbank (beneficiary bank)bank
- Arjun (beneficiary)customer
Messages
No standard message — a book / internal transfer.
The sequence
| # | Step | Route | Kind |
|---|---|---|---|
| 1 | NEFT request — Riya instructs Bank Alfa to pay Arjun | Riya → Bank Alfa | message |
| 2 | DR Riya + queue — Bank Alfa debits Riya and queues the transfer for the next batch | Bank Alfa | posting |
| 3 | Batch submit — Bank Alfa submits the transfer into the current NEFT batch | Bank Alfa → NEFT | message |
| 4 | Net the batch — NEFT nets each bank's position for the batch | NEFT | clearing |
| 5 | Net settlement — Net positions settle in central bank money | Bank Alfa → Nordbank | settlement |
| 6 | Deliver — NEFT delivers the transfer to Nordbank | NEFT → Nordbank | message |
| 7 | CR Arjun — Nordbank credits Arjun | Nordbank | posting |
Exception rails
| Rail | Trigger | Where the money ends up | Next action |
|---|---|---|---|
| Wait for the next half-hourly batch | The transfer reaches NEFT just after the current cycle's cut-off, so it cannot join the batch that is about to settle. | Left Riya's account at the debit, but not yet settled between banks — it waits with NEFT for the next cycle. · No netting or settlement for this transfer yet; it will settle in the next half-hourly batch. | NEFT — The transfer joins the next half-hourly batch and then follows the normal net-settlement path to Arjun. |