Banking · Payment and Settlement Systems
Regarding the Two-Level Funds Transfer System, which statements accurately describe the role of the RBI at the upper level? I. The RBI acts as the central settlement agency for inter-bank obligations. II. The RBI guarantees that the sending customer has sufficient funds. III. The RBI ensures that the settlement is final by posting debits and credits to the respective banks' accounts. Which of the statements given above is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1I, II, and III
- 2II and III only
- 3I and III only✓
- 4I and II only
Correct answer
I and III only
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