Question

1. We can transfer money from one account to another account by a. NEFT b. RTGS d. None of the above c. Both of the above​

Answer 1

c. Both of the above

Step-by-step explanation:

NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) are two popular electronic payment systems used for transferring money from one bank account to another in India. Both NEFT and RTGS are widely used and provide different features and transaction processing times.

NEFT is a payment system that operates in batches and settles transactions in fixed time slots. It is suitable for transferring smaller amounts of money, and the transactions are generally processed within a few hours.

RTGS, on the other hand, is a real-time payment system where the transactions are processed individually and settled immediately. It is typically used for high-value transactions, and the funds are transferred in real-time.

So, both NEFT and RTGS can be used for transferring money from one account to another, depending on the specific requirements of the transaction, such as the amount and urgency.