GK Question

technology medium true_false

NEFT transactions are settled in real-time individually like RTGS.

  1. True
  2. False

Answer: False

NEFT (National Electronic Funds Transfer) settles transactions in half-hourly batches, not real-time. RTGS (Real-Time Gross Settlement) processes high-value transactions individually in real-time. Both operate 24x7 since 2020. UPI is the only system offering instant peer-to-peer and merchant payments 24x7.

Topic Digital Payments
Exam Relevance Banking, SSC, Railway
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