Consider the following statements in respect of RTGS and NEFT: I. In RTGS, the settlement time is instantaneous while in case of NEFT, it 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?
Question:
Consider the following statements in respect of RTGS and NEFT: I. In RTGS, the settlement time is instantaneous while in case of NEFT, it 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?
Consider the following statements in respect of RTGS and NEFT: I. In RTGS, the settlement time is instantaneous while in case of NEFT, it 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?
Options
Answer: I only
Explanation:
RTGS (Real Time Gross Settlement) processes transactions instantly. RTGS has limited hours on holidays, while NEFT is available 24x7 since 2019. Inward transactions are not charged in RTGS.
Explanation:
RTGS (Real Time Gross Settlement) processes transactions instantly. RTGS has limited hours on holidays, while NEFT is available 24x7 since 2019. Inward transactions are not charged in RTGS.
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