A company has to tranfer rs. 3 laks and rs.1 lakh to 2 shopkeepers in a city on urgent basis which banking services should be availed bythe company
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Answer:
There is no cap on the amount of money that can be transferred. However, individual banks may set a limit. State Bank of India, for example, has capped the NEFT transfer amount under retail banking at Rs 10 lakh. Your bank branch has to be NEFT-enabled.
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Answer:
Real Time Gross Settlement (RTGS)
This is a facility used for transferring high value amounts. In RTGS, the minimum amount that can be transferred is Rs 2 lakh. You can only transfer funds using RTGS on any working day between Monday and Saturday either via internet banking or bank branch
other - NEFT, and IMPS .
hope this will help you.
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