📝 One-liners · 53 cards
Securitisation
Step 1?
Customer fills the NEFT application form with beneficiary details (name, account number, IFSC) and amount.
Step 2?
Originating branch creates a structured message and forwards it to its NEFT Service Centre (pooling centre).
Step 3?
Pooling centre routes the message to the NEFT Clearing Centre (operated by RBI) for the next batch.
Step 4?
Clearing Centre sorts transactions destination-bank-wise, debits the originating bank and credits destination banks.
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