4.Full form of RTGS and NEFT and timings??

Question

Accepted Answer

RTGS stands for Real Time Gross Settlement and NEFT stands for National Electronic Funds Transfer. Timings vary for both.

RTGS is used for high-value transactions with a minimum amount of Rs. 2 lakh and there is no maximum limit.
NEFT is used for transactions up to Rs. 2 lakh and there is no minimum limit.
RTGS operates on a real-time basis and settles transactions individually while NEFT operates in batches and settles transactions in hourly intervals.
RTGS timings are from 7:00 am to 6:00 pm on weekdays and 7:00 am to 1:00 pm on Saturdays, except for second and fourth Saturdays and Sundays which are holidays.
NEFT timings are from 8:00 am to 7:00 pm on weekdays and 8:00 am to 1:00 pm on Saturdays, except for second and fourth Saturdays and Sundays which are holidays.

Top IndusInd Bank Teller Authoriser interview questions & answers