Economics · Banking and Cash Management

Considering the technical and regulatory infrastructure of Cash Management Services (CMS) in India, evaluate the following statements: Statement I: The National Electronic Funds Transfer (NEFT) system operates on a Deferred Net Settlement basis where transactions are processed in half-hourly batches, and the service is available 24x7. Statement II: Real Time Gross Settlement (RTGS) is the primary platform for high-value transactions where the minimum amount is 2,00,000 INR and settlement happens continuously on an individual basis. Statement III: The Cheque Truncation System (CTS) has eliminated the physical movement of cheques by using digital images for clearing. Statement IV: UPI (Unified Payments Interface) can be integrated into a corporate CMS for high-volume merchant collections. Statement V: The RBI's 'Positive Pay' system is a security feature for cheques valued at 50,000 INR and above, requiring the drawer to provide cheque details electronically. Which of the following alternatives correctly identifies the valid statements?