GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Immediate transfer of money from customer of one bank to customer of RBI
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Immediate transfer of money from customer of one bank to customer of another bank
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Immediate transfer of money from customer of one bank to customer of another country
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Immediate transfer of money from customer of one bank to customer of another branch within the same bank
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Detailed explanation-1: -RTGS payment method or Real Time Gross Settlement is a way of fund transfer that allows the money sent by the remitter to immediately reach the beneficiary/payee as and when the request is received. It is done on a real-time basis and the beneficiary receives the money within the 30 minutes of the request.
Detailed explanation-2: -To remit funds to the Inter Bank Payee through RTGS / NEFT select the ‘Inter Bank Transfer’ link in the ‘Payments/Transfers’ tab. Select the Transaction Type-RTGS or NEFT. The list of beneficiary accounts added is displayed. Enter the Amount and select the beneficiary to be credited from the list.
Detailed explanation-3: -RTGS stands for Real-time Gross Settlement, meaning that through this method, the money is transferred from one bank account to the other in real-time, without any delay. RTGS works out as the best payment method if you need to transfer an amount equal to or more than Rs. 2 lakh in real time.