Consider the following statements regarding National Electronic Funds Transfer NEFT 1 NEFT is availa...........

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Consider the following statements regarding National Electronic Funds Transfer (NEFT)?

1. NEFT is available between 8 am and 7 pm from Monday to Friday

2. Bank customers can transfer maximum of 2 lakh rupees through NEFT.

Which of the above statement(s) is/are correct?

1 only

2 only

Boh 1 and 2

none of the above

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Explanation:

Customers can transfer anywhere between any amount through net banking in a day. Through RTGS, they can transfer more than Rs 2 lakh through net banking in a day. However, as of now, these online transactions are not available on Sundays, on the second and fourth Saturdays of every month and on bank holidays.
On working days, NEFT is available between 8 am and 7 pm (varies from bank to bank) except on working Saturdays (8 am and 1 pm) and hence they restrict customers’ ability to carry out such transactions.
Online RTGS transactions are available for lesser hours. It can be done till 4 pm (varies from bank to bank).