Question

The timing of RTGS services at banks varies depending on the customer timings of the branch/bank.

• A. True
• B. False

Answer 1

The correct option is A True

The timing of RTGS services at banks varies depending on the customer timings of the branch/bank- this is a true statement. Minimum amount required to transfer funds through RTGS is Rs 2,00,000. RTGS stands for Real Time Gross Settlement. It is an electronic form of funds transfer. The transmission takes place on a real time basis. The transfer of funds with RTGS is done for minimum of Rs. 2 lakh.