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)
Correct Answer: Real-time gross settlement (RTGS)
Solution : The correct answer is (a) Real-time gross settlement (RTGS).
The RTGS system allows banks to settle their interbank transactions electronically in real-time and on a gross basis. In an RTGS system, transactions are processed and settled individually and immediately upon submission, without any netting or batching. This means that funds are transferred from the sender's bank to the recipient's bank on a transaction-by-transaction basis, with immediate availability and finality of funds.The RTGS system is commonly used for large-value and time-critical transactions, such as high-value fund transfers, large corporate payments, interbank settlements, and government transactions. It provides a secure, efficient, and reliable mechanism for banks to settle their payment obligations electronically, minimizing settlement risk and enabling faster and more accurate financial transactions.
Question : ATM is the abbreviation for:
Option 1: Automatic Teller Machine
Option 2: Automated Teller Machine
Option 3: Authentic Teller Machine
Option 4: Authorised Teller Machine
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)
Question : What is the full form of ATM?
Option 1: Automated Teller Machine
Option 2: Automatic Teller Machine
Option 3: Automated Teller Mechanism
Option 4: Automatic Teller Mechanism
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
Option 1: Real-time Gross Settlement
Option 2: Real-time Gross System
Option 3: Real-time Gross Securities
Option 4: Real-time Gross Saving
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