Q. In context with India's digital payment landscape, consider the following statements: - RTGS (Real-Time Gross Settlement) allows for real-time transfer of funds without netting.
- IMPS (Immediate Payment Service) is available 24/7 for instant money transfers.
- NEFT (National Electronic Funds Transfer) operates in hourly batches and is not real-time.
How many of the above statements are correct?
Answer:
All three
Notes: - RTGS (Real-Time Gross Settlement) allows for real-time transfer of funds without netting: This is correct. RTGS facilitates immediate transfer of funds on a gross basis.
- IMPS (Immediate Payment Service) is available 24/7 for instant money transfers: This is correct. IMPS enables instant money transfers at any time, day or night.
- NEFT (National Electronic Funds Transfer) operates in hourly batches and is not real-time: This is correct. NEFT processes transactions in batches, typically every hour.
Thus, all of the statements are correct.