'Pradhan Mantri Jan-Dhan Yojana' has
been launched for
1). providing housing loan to poor
people at cheaper interest rates 2). promoting women’s Self-Help
Groups in backward areas
3). promoting financial inclusion in the
countrY 4). providing financial help to the
marginalized communities
Which of the following statement is not true regarding National Electronic Funds Transfer (NEFT)?
1). As per the RBI, NEFT is a nation-wide payment system facilitating one-to-one funds transfer and a delay from the bank’s side on such transaction; banks are required to pay a prescribed penalty. 2). Under this, individuals, firms and corporates having an account with any other bank branch can electronically transfer funds. 3). There is a limit – on the maximum amount of funds that could be transferred using NEFT. 4). For being part of the NEFT funds transfer network, a bank branch has to be NEFT- enabled.