GENERAL KNOWLEDGE

GK

BANKING AWARENESS AND SEBI

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
What does RTGS enable?
A
Immediate transfer of money from customer of one bank to customer of RBI
B
Immediate transfer of money from customer of one bank to customer of another bank
C
Immediate transfer of money from customer of one bank to customer of another country
D
Immediate transfer of money from customer of one bank to customer of another branch within the same bank
Explanation: 

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.

There is 1 question to complete.