NEFT, RTGS, and IMPS

1.

What does S stands for in SFMS in relation to NEFT payment method?

Statutory

Systematic

Structured

Savings

2.

What is the maximum limit per transaction in NEFT?

Rs 1,00,000

Rs 50,000

Rs 1,50,000

No Such Limit

3.

How many digits are present in IFSC code?

9

15

10

11

4.

What is the minimum amount of money that can be transferred through RTGS?

Rs 2 lakh

Rs 2.5 lakh

Rs 3 lakh

Rs 5 lakh

5.

NEFT works on the principle of which of the following?

Gross Batch Settlement

Deferred Net Settlement

Priority Net Settlement

Domain Net Settlement