BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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SEBI
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IRDA
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RBI
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Ministry of Finance
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Detailed explanation-1: -The Reserve Bank owns and operates following CPS: i. Real Time Gross Settlement (RTGS) System – It is the country’s Large Value Payment System and was introduced in March 2004.
Detailed explanation-2: -It may be recalled that the Reserve Bank of India’s Real Time Gross Settlement (RTGS) System went live on March 26, 2004. Initially, it was open to the settlement of inter-bank transactions. From April 29, 2004, the RTGS System has been open also for the settlement of customer transactions.
Detailed explanation-3: -What does RTGS stand for? Ans. The acronym ‘RTGS’ stands for Real Time Gross Settlement, which can be explained as a system where there is continuous and real-time settlement of fund-transfers, individually on a transaction-by-transaction basis (without netting).
Detailed explanation-4: -Transactions through National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) System will continue upto 2400 hours as hitherto on March 31, 2022. 4.