The Reserve Bank of India has instructed the banks to adhere to the rules set for the National Electronic Funds Transfer (NEFT) more seriously. It was reported that several lenders were unable to issue conformation receipts to the customers who made use of the facility.

The apex bank has asked the banks to set up new systems for the purpose within next 15 days. It is now imperative for the banks to ensure that the customers receive immediate report about the transactions made through NEFT channel.

"Banks are advised to put in place suitable mechanisms immediately by which such confirmation will be sent for all inward/outward messages if such systems are not already in place. A copy of your plan of action in this regard may please be sent to us within 15 days of receipt of this letter," said RBI.

It also said,"... Positive confirmation is a unique feature of NEFT and has played a major role in popularising the system amongst users. Non-adherence to instructions in this regard will undermine the customer service efficiency of the system."

RBI also made it clear that a bank will have to pay penalty if there is any unexpected delay in crediting the amount to the customer's account.