BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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No limit
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Rs. 10 lacs
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Rs. 50 lacs
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Rs.20 lacs
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Detailed explanation-1: -Ans. The RTGS system is primarily meant for large value transactions. The minimum amount to be remitted through RTGS is ₹ 2, 00, 000/-with no upper or maximum ceiling.
Detailed explanation-2: -There is no upper limit set by the RBI for RTGS transactions. For example, the maximum transfer amount is Rs. 20 lakhs per day at IDFC First Bank and a maximum of Rs. 10 lakhs can be transferred through ICICI Bank under RTGS.
Detailed explanation-3: -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.