Ques 1. What is RTGS ?
Ans. Real Time Gross Settlement.
Ques 2. What is NEFT ?
Ans. National Electronic Fund Transfer.
Ques 3. Is there any minimum / maximum amount for RTGS transactions?
Ans. The RTGS system is primarily meant for large value transactions. The minimum amount to be remitted through RTGS is ` 2 lakh. There is no upper ceiling for RTGS transactions.
Ques 4:What is IFSC code?
Ans :The Indian Financial System Code. IFSC is alphanumeric code that uniquely identifies a bank-branch
Ques 5: How many character does IFSC code have?
Ans : 11 character code
Ques 6: What is IMPS ?
Ans : IMPS is Immediate Payment Service and it is commonly known as Interbank Mobile Payment Service.
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