Direct in Net Banking refers to transfers where you and the beneficiary, in this case BSEStarMF, have accounts within the same bank. At present, BSE supports direct Net Banking with 7 Banks –

HDFC Bank

Axis Bank

ICICI Bank

SBI Bank

Kotak Mahindra Bank

All other banks other than those above are referred to as Nodal Banks.

Funds transfer are faster for direct net banking transfers and can take upto 2 business days for Nodal banks depending on the bank you use.