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      Question

      Which of the following is NOT a feature of the RTGS

      system in India as of January 2024?
      A Settlement happens on a real-time and gross basis Correct Answer Incorrect Answer
      B Minimum transaction amount is â‚ą2 lakh Correct Answer Incorrect Answer
      C RTGS can be used for cross-border fund transfers directly Correct Answer Incorrect Answer
      D The system operates 24Ă—7Ă—365 Correct Answer Incorrect Answer
      E There is no upper ceiling on the transaction amount Correct Answer Incorrect Answer

      Solution

      RTGS in India is designed for domestic high-value transfers only. It does not support direct cross-border transfers. Cross-border remittances require SWIFT or other international payment systems. All other options correctly describe RTGS features as of Jan 2024.

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