Question

Consider the following statements.

• A. The processing speed of NEFT is faster than IMPS
• B. There's no maximum transfer limit in RTGS
• C. Immediate Mobile Payment Service is the full form of IMPS
• D. All are correct

Answer 1

Answer:

B. There's no maximum transfer limit in RTGS

• RTGS stands for Real-Time Gross Settlement. It's a banking system that allows for the electronic transfer of funds between banks in real-time.

• RTGS is often used for large business payments and interbank transfers.