Economics • Banking & FinanceEasy
Which of the following payment settlement systems in India is owned and operated directly by the Reserve Bank of India for continuous, real-time gross settlement of high-value interbank funds?
A. Real Time Gross Settlement (RTGS)✓ Correct Answer
B. Immediate Payment Service (IMPS)
C. Unified Payments Interface (UPI)
D. National Automated Clearing House (NACH)
💡 Solution & Explanation
Real Time Gross Settlement is administered directly by the Reserve Bank of India to facilitate continuous, instantaneous settlement of large-value fund transfers on an individual order basis. Payment systems like UPI and IMPS are retail-focused platforms administered by the National Payments Corporation of India rather than directly by the central bank.
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