Multiple choice

The facility in which the fund is transferred from one bank to another continuously throughout the business hours using the internet facility is known as

  1. National Electronic Fund Transfer

  2. Real Time Gross Settlement

  3. Automated Teller Machine

  4. Bank Overdraft

  5. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

 It is in Real Time Gross Settlement that the transfer of funds takes place continuously during the business hours from one bank to another. The transactions are settled as soon as possible.

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