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UPSC Prelims 2025 Paper-I 📅 25 May, 2025

Consider the following statements in respect of RTGS and NEFT:
I. In RTGS, the settlement time is instantaneous while in case of NEFT, it takes some time to settle payments.
II. In RTGS, the customer is charged for inward transactions while that is not the case for NEFT.
III. Operating hours for RTGS are restricted on certain days while this is not true for NEFT.

Which of the statements given above is/are correct?

A
I only
B
I and II
C
I and III
D
III only
Result Summary
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UPSC Prelims
2025 • 25 May, 2025 • Paper-I
Consider the following statements in respect of RTGS and NEFT:
I. In RTGS, the settlement time is instantaneous while in case of NEFT, it takes some time to settle payments.
II. In RTGS, the customer is charged for inward transactions while that is not the case for NEFT.
III. Operating hours for RTGS are restricted on certain days while this is not true for NEFT.

Which of the statements given above is/are correct?
Correct Answer
I only
Statement I is correct: RTGS is instantaneous, while NEFT operates in half-hourly batches. Statement II is incorrect; no charges are levied on inward transactio......
Ref/Book : UPSC Prelims 2025
Ref. Subject Economy
Chapter -
Ref. Topic Banking and Finance
Pg. No -
💡 Analysis & Explanation
Statement I is correct ▼
RTGS is instantaneous, while NEFT operates in half-hourly batches. Statement II is incorrect; no charges are levied on inward transactions for either system. Statement III is incorrect; both systems are available all days of the year.
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