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Question 1 reset

What are the limits on minimum and maximum amount that can be remitted through NEFT?

Minimum 10,000; Maximum Rs 100,000

No minimum and no maximum

Question 2 reset

Which of the following is correct regarding NEFT?

NEFT works on Net settlement basis.

The system is neither centre specific nor has any geographical restriction inside the country.

NEFT system can be used only for remitting Indian Rupee among the participating banks within the country.

All the above

Question 3 reset

RTGS is a remittance system. The full form of G is:

Good

Gross

Graded

Question 4 reset

In RTGS system of remittance, transfer of money_ takes place from one bank to another on which basis?

Real Time basis

Gross Basis

Both the above

Question 5 reset

Which of the following is the fastest possible money transfer system through the banking channel?

NEFT

RTGS

Question 6 reset

RTGS helps in preventing which type of risks?

Systemic Risks

Settlement Risks

Both the above

Question 7 reset

Which of the following has been replaced by introduction of RTGS?

Electronic Fund Transter

High Value clearing

Question 8 reset

The minimum amount to be remitted through RTGS is

Rs.1 lakh

Rs.2 lakh

Question 9 reset

There is no upper ceiling for RIGS transactions.

True

False

Question 10 reset

How much time is taken in RIGS for effecting funds transfer from one account to another?

The beneficiary bank has to credit the beneficiary's account within two hours of receiving the funds transfer message.

The beneficiary bank has to credit the beneficiary's account within one hour of receiving the funds transfer message.

Time Over