Question

Which of the following statement is correct about RTGS and NEFT?

1. RTGS and NEFT both are ways of Electronic Funds Transfer.
2. NEFT is suitable for high value transactions and RTGS is suitable for low value transactions.
3. NEFT operates on hourly batches and RTGS operates on real time basis.
4. NEFT and RTGS both facilitate intra and inter-bank transfer of funds within and across the city.

Choose the correct answer:

Options

• (i), (iii) and (iv) are correct

• (i) and (ii) are correct

• (ii) and (iii) are correct

• (i) and (iv) are correct

Answer 1

(i), (iii) and (iv) are correct

• RTGS and NEFT both are ways of Electronic Funds Transfer
• NEFT operates on hourly batches and RTGS operates on real time basis
• NEFT and RTGS both facilitate intra and inter-bank transfer of funds within and across the city.