Question

write notes on RTGS system and NEFT....​

Answer 1

RTGS (real time gross settlement) and NEFT (national electronic funds transfer) are electronic payment systems that allow individuals to transfer funds between banks. ... Under RTGS, the funds transfer takes place on a real time basis, or in other words, at the time the request is received.

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Answer 2

Answer:

Here's Your Answer

Explanation:

>Real-Time Gross Settlement (RTGS) is one of the processes that settle payments to the recipient on an instant basis without having to wait for some time for the settlement to happen. RTGS services are irrevocable once the settlements are done.

>National Electronic Funds Transfer is an electronic funds transfer system maintained by the Reserve Bank of India. Started in November 2005, the setup was established and maintained by Institute for Development and Research in Banking Technology.