question_answer

With a view to providing a simpler, faster, reliable and cost effective solution for repetitive payment transactions such salary, pension, interest, commission, dividend, etc by companies, corporations and government departments, the Reserve Bank introduced in April, 1995                                                              [RBI Assistant 2013]

A)  MICR Clearing       

B)  Electronic Funds Transfer (EPT)

C)  Electronic Clearing Service (Credit) (ECS Credit)

D)  Shared Payment Network System (SPNS)

E)  None of the above