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.