e-Fund transfer is an electronic mode of payment that you can select while providing bank details in a party ledger. In Tally.ERP 9, the e-Fund Transfer option replaces the earlier Inter Bank and Same Bank transfer modes of e-payments.
With this enhancement in Release 5.4.5, you can select e-Fund transfer as the payment type; the system automatically detects if it is an Inter Bank or a Same Bank transfer when you enter the bank details of the payer and the payee and record a transaction.