A) The minimum amount to be remitted through RTGS is Rs. 2 lakh
B) RTGS stands for Real Time Gross Settlement
C) It operates on a Deferred Net Settlement (DNS) basis
D) There is no upper ceiling for RTGS transactions
E) None of these
Correct Answer: C
Solution :
NEFT operates on a Deferred Net Settlement (DNS) basis which settles transactions in batches. In DNS, the settlement takes place with all transactions received till the particular cut-off time. In RTGS, the transactions are settled individually and continuously throughout the business hours.
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