BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Which of the following is not the feature of Real Time Gross Settlement (RTGS)?

A	Payments are settled transaction by transaction
B	Settlement of funds is revocable.
C	Settlement is done in real time.
D	It is a fully secured system which uses digital signatures and public key encryption for safe and secure message transmission.

Explanation:

Detailed explanation-1: -In the Real Time Gross Settlement ( RTGS) system, the settlement of funds is not revocable.

Detailed explanation-2: -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-3: -RTGS is not a 24x7 system. The RTGS service window for customer transactions is available to banks from 7 am to 6 pm on a working day, for settlement at the RBI end.

Detailed explanation-4: -The term real-time gross settlement (RTGS) refers to a funds transfer system that allows for the instantaneous transfer of money and/or securities. RTGS is the continuous process of settling payments on an individual order basis without netting debits with credits across the books of a central bank.

Detailed explanation-5: -Which of the following is not a feature of RTGS? Explanation: It is a continuous (real-time) settlement of funds transfers individually on an order by order basis (without netting).

There is 1 question to complete.