UPSC Prelims 2025 · Question 78 of 100
UPSC Prelims 2025 question on RTGS vs NEFT
- ExamUPSC CSE
- Year2025
- PaperGeneral Studies Paper I
- SubjectIndian Economy
- TopicBanking
- DifficultyMedium
- TypeStatement
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 are correct?
Show answer
Answer: A. I only
Verdict
Correct statements: I only → Option (a).
Statement by statement
Statement I – CORRECT: RTGS transactions are processed individually in real time, whereas NEFT transactions are batch processed.
Statement II – INCORRECT: No charges are levied on inward RTGS transactions.
Statement III – INCORRECT: RTGS is available 24x7.