1.

A company has to tranfer rs. 3 laks and rs.1 lakh to 2 shopkeepers in a city on urgent basis which banking services should be availed bythe company

Answer»

Answer:

There is no cap on the amount of money that can be TRANSFERRED. HOWEVER, INDIVIDUAL banks may set a limit. State Bank of India, for example, has CAPPED the NEFT transfer amount under retail banking at Rs 10 lakh. Your bank BRANCH has to be NEFT-enabled.



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