Consider the following statements in respect of RTGS and NEFT: I. In RTGS, the settlement time is instantaneous while in case of NEFT, it takes some time to settle payments. II. In RTGS, the customer is charged for inward transactions while that is not th

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Q: 109 (IAS/2025)
Consider the following statements in respect of RTGS and NEFT:

I. In RTGS, the settlement time is instantaneous while in case of NEFT, it takes some time to settle payments.

II. In RTGS, the customer is charged for inward transactions while that is not the case for NEFT.

III. Operating hours for RTGS are restricted on certain days while this is not true for NEFT.

Which of the statements given above is/are correct?

question_subject: 

Economics

question_exam: 

IAS

Statement I is correct as RTGS provides instantaneous settlement while NEFT takes some time due to batch processing. Statement II is incorrect because there are no charges for inward transactions in both RTGS and NEFT. Statement III is incorrect as NEFT operates 24x7, while RTGS has restricted operating hours.