What are NEFT and RTGS about?

a. Cheque truncation process

b. Electronic fund transfer from bank to bank

c. Electronic payment products within a bank

d. Various deposit products

ANSWER: Electronic fund transfer from bank to bank

Explanation:

NEFT operates on a deferred net settlement (DNS) basis and settles transactions in batches. In RTGS, transactions are processed continuously, all through the business hours.