Here are some MCQs on NEFT, RTGS and IMPS
1. NEFT stands for:
a) National Electronic Funds Transfer
b) National Electronic Financial Transaction
c) National Electronic Funds Transaction
d) None of the above
2. Which of the following is not a feature of NEFT?
a) Transactions can be initiated online or offline
b) Can be used to transfer funds across different banks
c) Transactions are processed in real-time
d) Can be used to transfer both small and large amounts
3. RTGS stands for:
a) Real-Time Gross Transfer System
b) Real-Time Gross Settlement
c) Real-Time Gross Transaction System
d) None of the above
4. What is the minimum transaction amount for RTGS?
a) Rs. 10,000
b) Rs. 1 lakh
c) Rs. 5 lakh
d) Rs. 10 lakh
5. IMPS stands for:
a) Immediate Mobile Payment System
b) Immediate Money Payment System
c) Instant Mobile Payment Service
d) Immediate Mobile Payment Service
