Q.What do you mean by ATM?

The minimum amount for an RTGS transfer is ₹2 lakh, so the answer is (c).

Among the general utility services of commercial banks is electronic funds transfer. RTGS — Real Time Gross Settlement — settles transactions individually and instantly (in real time) rather than in batches.

Key point:

• RTGS is built for large-value payments, so the RBI fixes a minimum of ₹2,00,000 per transaction. …

The minimum amount transferable through RTGS is Rs. 2 Lakhs, option (a).

Among the general-utility (electronic fund transfer) services offered by commercial banks, RTGS — Real Time Gross Settlement — is the system used for high-value money transfers that are settled individually and in real time. Because it is intended for large-value transactions, RTGS carries a minimum limit of Rs. 2 lakh per transaction; there is no u …

The correct answer is (d) March 2012. RuPay, India's indigenous card payment network, was launched by NPCI in March 2012.

As a general utility service, banks issue payment cards to customers. RuPay is significant in the Tamil Nadu HSC Commerce syllabus as India's home-grown card scheme:

• RuPay was conceived and launched by the National Payments Corporation of India (NPCI) as an alternative to foreign card networks so that card transactions are processed within India, cutting cost and increasing security. …