.....is an electronic fund transfer system that operates on a Deferred Net Settlement (DNS) basis which settles transactions in batches.

BANKING GENERAL KNOWLEDGE

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

____is an electronic fund transfer system that operates on a Deferred Net Settlement (DNS) basis which settles transactions in batches.

A	NEFT
B	RTGS
C	NPCI
D	BBPS

Explanation:

Detailed explanation-1: -NEFT is an electronic fund transfer system that operates on a Deferred Net Settlement (DNS) basis which settles transactions in batches. In DNS, the settlement takes place with all transactions received till the particular cut-off time.

Detailed explanation-2: -Ans EFT and NEFT are electronic fund transfer modes that operate on a deferred net settlement (DNS) basis which settles transactions in batches. In DNS, the settlement takes place at a particular point of time. All transactions are held up till that time.

Detailed explanation-3: -NEFT operates on Deferred Net Settlement (DNS) basis in which the transactions are settled in batches, i.e., all the transactions received till a particular time are netted.

Detailed explanation-4: -NEFT (National Electronic Funds Transfer) RTGS (Real-Time Gross Settlement) Through National Electronics Funds Transfer, transactions of any amount can be sent to the recipient’s account without any maximum limit to the funds that can be sent in a day.

Detailed explanation-5: -While NEFT and RTGS were introduced by RBI (Reserve Bank of India), IMPS was introduced by National Payments Corporation of India (NPCI).

There is 1 question to complete.