BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Beneficiary’s bank account number
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The IFSC number of the beneficiary’s bank branch
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There is a minimum amount specified for transfer
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All of the above
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Detailed explanation-1: -The details required for RTGS transfer are the amount that needs to be transferred, the name of the beneficiary, name of the bank, IFSC code and the account number of the beneficiary.
Detailed explanation-2: -RTGS transactions / transfers have no maximum amount cap. The system is available on all days on 24x7x365 basis. There is real time transfer of funds to the beneficiary account. The remitter need not use a physical cheque or a demand draft.
Detailed explanation-3: -Features and Benefits of RTGS Transactions Realtime online fund transfer. Used for high value transactions. Safe and secure. Reliable and backed by the RBI.
Detailed explanation-4: -RTGS transactions involve large amounts of cash, basically only funds above Rs 200, 000 may be transferred using this system. For NEFT, any amount below Rs 200, 000 may be transferred, and this system is generally for smaller value transactions involving smaller amounts of money.