Question : ___________ is a form of electronic payment where funds are transferred directly from one bank account to another.
Option 1: NEFT (National Electronic Funds Transfer)
Option 2: RTGS (Real-Time Gross Settlement)
Option 3: IMPS (Immediate Payment Service)
Option 4: UPI (Unified Payments Interface)
Correct Answer: IMPS (Immediate Payment Service)
Solution : The answer is (c) IMPS (Immediate Payment Service)
IMPS is a real-time payment system in India that allows users to transfer funds between bank accounts in real time. It is a 24x7x365 service, and funds are transferred instantly. IMPS is a popular payment method in India, and it is used by millions of people every day.
Question : The ___________ system allows banks to settle their interbank transactions electronically.
Option 1: Real-time gross settlement (RTGS)
Option 2: Automated Teller Machine (ATM)
Option 3: Point of Sale (POS)
Option 4: National Electronic Funds Transfer (NEFT)
Question : What is the full form of RTGS?
Option 1: Real Time Gross Settlement
Option 2: Real Transfer Gross System
Option 3: Rapid Time Gross System
Option 4: None of the above
Question : What is the full form of NEFT?
Option 1: National Electronic Funds Transfer
Option 2: National Electronic Financial Transaction
Option 3: National Electronic Fund Transfer
Option 4: National Electronic Finance Transaction
Option 1: Real-Time Gross Settlement
Option 2: Real-Time Group Settlement
Option 3: Real-Time Global Settlement
Option 4: Real-Time Gross Securities
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