BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Liquidity adjustment facility
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Real time gross settlement
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Forward rate agreements
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Central depository service
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Detailed explanation-1: -RTGS is a funds transfer systems where transfer of money takes place from one bank to another on a “real time” and on “gross” basis.
Detailed explanation-2: -The Unified Payment Interface (UPI) can be thought of like an email ID for your money. It will be a unique identifier that your bank uses to transfer money and make payments using the IMPS (Immediate Payments Service). IMPS is faster than NEFT and lets you transfer money immediately and unlike NEFT, it works 24/7.
Detailed explanation-3: -Detailed Solution. RTGS is not a 24x7 system.
Detailed explanation-4: -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).