BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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RTGS
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SWIFT
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M-PESA
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All of the above
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Detailed explanation-1: -Notes: RBI provides the Real Time Gross Settlement System (RTGS) facility to the banks for inter-bank fund transfers.
Detailed explanation-2: -Ans RBI EFT is a Scheme introduced by Reserve Bank of India (RBI) to help banks offering their customers money transfer service from account to account of any bank branch to any other bank branch in places where EFT services are offered.
Detailed explanation-3: -RTGS is the fastest possible interbank money transfer facility available through secure banking channels in India. NEFT-National Electronic Fund Transfer-This system of fund transfer operates on a Deferred Net Settlement basis.
Detailed explanation-4: -RTGS transactions / transfers have no amount cap set by RBI. 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-5: -3.1. The RTGS System will be operated by the Bank under the supervision of the Regional Director, Reserve Bank of India, Mumbai Regional Office, Shahid Bhagat Singh Marg, Fort, Mumbai 400 001. 3.3.