NEFT Clearing Centre definition
NEFT Clearing Centre means any office designated by the Nodal Department in each of the centres to which NEFT system is extended, for receiving, processing and sending the NEFT SFMS message and the debiting and crediting of accounts of the participating banks and institutions for settlement of payment obligations or one or more of these functions. National Clearing Cell, Nariman Point, Mumbai is being designed as the NEFT Clearing Centre (NCC) for purposes of the NEFT System.