Multiple choice

What is the funds transfer system where transfer takes place from one bank to another on a real time basis called?

  1. BankNet

  2. NEFT

  3. RTGS

  4. ECS

  5. EFTPOS

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Real time gross settlement systems (RTGS) are funds transfer systems where transfer of money or securities takes place from one bank to another on a real time and on gross basis.