New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    To make the NEFT transfer faster the duration of

    settlement cycle is now made every:
    A 2 hour Correct Answer Incorrect Answer
    B Hour Correct Answer Incorrect Answer
    C Half an hour Correct Answer Incorrect Answer
    D 15 minutes Correct Answer Incorrect Answer
    E Minute Correct Answer Incorrect Answer

    Solution

    In line with the document on Vision-2018 for Payment and Settlement Systems, the NEFT settlement cycle will be reduced from hourly batches to half hourly batches. Consequently, 11 additional settlement batches will be introduced at 8.30am onwards, taking the total number of half hourly settlement batches during the day to 23. The starting batch at 8 am and closing batch at 7 pm shall remain the same.

    Practice Next

    Relevant for Exams: