Definition of NEFT and RTGS

Q.  What are NEFT and RTGS about?
- Published on 20 Jul 15

a. Cheque truncation process
b. Electronic fund transfer from bank to bank
c. Electronic payment products within a bank
d. Various deposit products

ANSWER: Electronic fund transfer from bank to bank
 
NEFT operates on a deferred net settlement (DNS) basis and settles transactions in batches. In RTGS, transactions are processed continuously, all through the business hours.

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