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      Question

      Which of the following is an advantage of NEFT over RTGS

      for retail users?
      A Real-time settlement of large value funds Correct Answer Incorrect Answer
      B No minimum transaction limit and availability for small-value transfers Correct Answer Incorrect Answer
      C Exclusively available to corporate customers Correct Answer Incorrect Answer
      D Only available on working days Correct Answer Incorrect Answer
      E Requires remitter and beneficiary to have the same bank Correct Answer Incorrect Answer

      Solution

      NEFT is ideal for small or large-value transactions, with no minimum limit and now operates 24Γ—7Γ—365.

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