Many a time we read in newspaper about the benefits ofNational Electronic Funds Transfer (NEFT) - a dliveryservice launched by the bank. Why do banks advocatefor such delivery channels?(1) It is a system in which no physical transfer takesplace - hence risk is very low.(2) In this system banks are not required to transfer anymoney actually to the account of the customer. Onlybook adjustment is done. Hence actual fund is notneeded.(3) This facility is available to anybody at any place. Evenhaving a bank account is not at all necessary.