BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the customers
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the banks
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Reserve Bank of India
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Both A and B
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Detailed explanation-1: -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-2: -In order to transfer money through RTGS, you must first add a beneficiary. Thereafter, you can make a funds transfer. The steps to add a beneficiary to your account are: Step-1: Log into your respective bank’s netbanking account by entering the username and password.
Detailed explanation-3: -RTGS offers many advantages for funds transfer: It is a safe and secure system for funds transfer. RTGS transactions / transfers have no amount cap set by RBI. The system is available on all days on 24x7x365 basis. There is real time transfer of funds to the beneficiary account.