BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs 1, 00, 000
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Rs 50, 000
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Rs 1, 50, 000
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No Such Limit
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Detailed explanation-1: -It can be done by depositing cash at the nearest NEFT enabled branch of any bank, by furnishing additional details such as complete address, telephone number, etc. Such cash remittances will, however, be restricted to a maximum of ₹50, 000 per transaction. 9.
Detailed explanation-2: -Amount Transfer Limit on NEFT One of the major reasons that people choose NEFT to transfer funds from one bank account to another is that RBI levies absolutely no NEFT amount transfer limit. This means that there is no minimum or maximum amount required to make transactions through NEFT.
Detailed explanation-3: -As per RBI’s guidelines, there is no limit on the minimum or maximum amount that can be transferred through NEFT. However, certain banks may have their own restrictions on the value of the amount to be transferred.
Detailed explanation-4: -Ans. The RTGS system is primarily meant for large value transactions. The minimum amount to be remitted through RTGS is ‘ 2 lakh. There is no upper ceiling for RTGS transactions.