With a view to providing a simpler, faster, reliable and cost effective solution for repetitive payment transactions such salary, pension, interest, commission, dividend, etc by companies, corporations and government departments, the Reserve Bank introduced in April, 1995 [RBI Assistant 2013]

Question

With a view to providing a simpler, faster, reliable and cost effective solution for repetitive payment transactions such salary, pension, interest, commission, dividend, etc by companies, corporations and government departments, the Reserve Bank introduced in April, 1995                                                              [RBI Assistant 2013]

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Shared Payment Network System (SPNS)

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MICR Clearing

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Electronic Funds Transfer (EPT)

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Electronic Clearing Service (Credit) (ECS Credit)

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None of the above

1.	With a view to providing a simpler, faster, reliable and cost effective solution for repetitive payment transactions such salary, pension, interest, commission, dividend, etc by companies, corporations and government departments, the Reserve Bank introduced in April, 1995 [RBI Assistant 2013]
A.	MICR Clearing
B.	Electronic Funds Transfer (EPT)
C.	Electronic Clearing Service (Credit) (ECS Credit)
D.	Shared Payment Network System (SPNS)
E.	None of the above
Answer» D. Shared Payment Network System (SPNS)

With a view to providing a simpler, faster, reliable and cost effective solution for repetitive payment transactions such salary, pension, interest, commission, dividend, etc by companies, corporations and government departments, the Reserve Bank introduced in April, 1995 [RBI Assistant 2013]

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