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UPSC 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
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Not attemptedCorrect Answer: (a) I only
RTGS settles transactions in real time (instantaneous), whereas NEFT settles in half-hourly batches, so statement I is correct. RBI mandates that inward RTGS/NEFT credits must be free, so statement II is wrong. Both RTGS (since 14 Dec 2020) and NEFT (since 16 Dec 2019) operate 24×7×365, so statement III is also wrong. Therefore only statement I is correct. ([rbi.org.in](https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=4523&utm_source=openai))
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Frequently Asked Questions
What is the correct answer to this UPSC 2025 Indian Economy question?▼
The correct answer is option (a): I only. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this Digital Payments & Financial Inclusion question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 2025, GS Paper 1, as Question 68. It falls under Indian Economy > Digital Payments & Financial Inclusion.
What is the difficulty level of this UPSC question?▼
This question is rated "easy". It tests basic recall and most well-prepared aspirants should answer it correctly.
How many UPSC Prelims questions have been asked from Digital Payments & Financial Inclusion?▼
UPSC has asked 20 questions from Digital Payments & Financial Inclusion (under Indian Economy) across multiple years. Visit the topic page to see the full list and year-wise trends.