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Fund transfer mechanism can funds be moved from one bank to another

+2 votes

asked Dec 20, 2018 in Class 12 by kratos

electronic payment systems
accounting software package
class-12
accounting for not for profit organisation
banking awareness
central banking

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1 Answer

+6 votes

answered May 30, 2020 by kratos

Best answer

It is

National Electronic Funds Transfer (NEFT): NEFT transactions are settled in batches.

Real Time *** Settlement (RTGS**): Transaction is settled instantly.

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