Question

It is a countrywide system by which an individual, firm or company can electronically transfer funds from any bank branch to another individual, firm or company having an account with any other bank branch in the country.

Options

• RTGS

• NEFT

• IMPS

• Mobile wallet

Answer 1

NEFT

Explanation:

1. NEFT is a nationwide payment mechanism that enables one-to-one transfers.
2. This Scheme allows individuals, organisations, and corporations to electronically transfer funds between participating bank branches in the country.