GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Identify the odd one out from the following benefits of RTGS.
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Settlement is immediate
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Lowers the settlement risk
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Avoids credit risk while settlement
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Suited for only lower value transactions
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Explanation:
Detailed explanation-1: -Minimum amount required to transfer funds through RTGS is Rs 2, 00, 000. RTGS stands for Real Time Gross Settlement.
Detailed explanation-2: -In the Real Time Gross Settlement ( RTGS) system, the settlement of funds is not revocable.
Detailed explanation-3: -RTGS is one of the safest as well as the fastest mode of interbank transfer. It is a paperless transfer of funds. There are no additional charges levied for RTGS transactions. The beneficiary is not required to visit the bank, to deposit the money. The funds can be transferred using the internet banking service.
There is 1 question to complete.