Attempt this previous-year question. The correct option stays hidden until you choose.
Consider the following statements in respect of RTGS and NEFT :
I. In RTGS, the settlement time is instantaneous while in case of NEFT, is takes some time to settle payments.
II. In RTGS, the customer is charged for inward transactions while that is not the case for NEFT.
III. Operating hours for RTGS are restricted on certain days while this is not true for NEFT.
Which of the statements given above is/are correct?
Pick an option to check yourself.
• Correct Answer: A
• Only Statement I is correct: RTGS settles transactions individually in real-time, while NEFT processes in half-hourly batches.
• Both systems charge no fees for inward transactions, and both operate 24x7x365 after RBI's recent updates.
Attempt Prelims MCQs or open Mains questions by paper — then continue the same bank inside the app with visual decks.
GyanGram