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RTGS Fund Transfer Process Quiz
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RTGS Fund Transfer Process Quiz

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Questions and Answers

What is the purpose of the 'RTGS Fund Transfer Form' mentioned in the process steps?

  • To verify the account balance of the sender before initiating the transfer
  • To request the customer for a deposit if required fund is not available
  • To ensure that the account holder has physically visited the branch and requested the fund transfer
  • To collect essential information and authorization from the account holder for the RTGS transaction (correct)

    • In the RTGS process, what does the 'Signature Verified Seal' serve as?

  • A way to ensure that the signature on the form matches the account holder's official signature (correct)
  • An indicator that funds have been successfully transferred to the receiving bank
  • An internal approval stamp from the designated Supervisor/Operations Manager/Head of Branch
  • A confirmation that the customer has sufficient balance for the RTGS transaction

    • What action does the Designated Official take if the required funds are not available in the customer's account for an RTGS transfer?

  • Initiate a call back confirmation to ensure the customer's consent for the transfer
  • Request the customer to deposit the necessary funds before proceeding with the transaction (correct)
  • Reject the transfer request and advise the customer to visit another branch
  • Send the form back to the account holder for corrections or additional information

    • What happens when a transaction is authorized by the Checker and the amount is above 10 lacs in the RTGS system?

    <p>It goes to the Administrator queue in the RTGS system</p> Signup and view all the answers

    What happens if a RTGS outward transaction is authorized by the Checker but funds are not available in the sender's account?

    <p>The transaction is shown as pending in the CBS queue</p> Signup and view all the answers

    What is the next step for the Designated Official of Treasury Back Office if a problem is found during the verification of an outward Credit in RTGS System?

    <p>Initiate due diligence and resolve the issue</p> Signup and view all the answers

    What should the Designated Official do if an account holder cannot provide the Routing Number for a fund transfer through RTGS?

    <p>Provide the Routing Number after verifying the Credit A/C's Information</p> Signup and view all the answers

    In case of any discrepancy found during the verification process by the Operations Manager/Designated Supervisor, what action is taken?

    <p>The application is returned to the Designated Official for rectification</p> Signup and view all the answers

    What does the Designated Operations Manager/Supervisor do if everything is in order during the fund transfer process through RTGS?

    <p>Provide approval with seal, sign, and date on the RTGS Form</p> Signup and view all the answers

    What should the Designated Official ensure before forwarding information to the Operations Manager?

    <p>Correct Beneficiaries Name, Account Number, Routing Number</p> Signup and view all the answers

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