NEFT, RTGS and IMPS

26. Which of the following is a benefit of using NEFT?

a) Instant fund transfer

b) No transaction fees

c) Available 24/7, including weekends and holidays

d) Can be used for international fund transfers

27. Which of the following is a benefit of using RTGS?

a) Low transaction fees

b) Instant fund transfer

c) No maximum transaction limit

d) Available 24/7, including weekends and holidays

28. Which of the following is a benefit of using IMPS?

a) Requires physical presence at the bank branch

b) Low transaction fees

c) Requires the use of a mobile phone

d) Takes 2-3 business days for fund transfer

29. NEFT transactions are processed in how many settlement cycles per day?

a) 1

b) 2

c) 3

d) 4

30. RTGS transactions can only be initiated through:

a) Cheque books

b) Internet banking

c) Mobile banking apps

d) ATM machines