IBPS Clerk Prelims Model Paper 20

Directions (Q.Nos. 16-20):
Rearrange the given six sentences A, B, C, D, E, F in a proper sequence so as to from a meaningful paragraph and then answer the given questions.
A. The NEET system also relieves the stress on the existing paper based funds transfer and clearing system.
B. The RBI has introduced a system called the Reserve Bank of India National Electronic Funds Transfer System.
C. The remitting branch prepares a Structured Financial Messaging Solution (SFMS) message and sends it to its service centre for NEFT.
D. The RBI clearing centre sorts the transactions bank wise and prepares the accounting entries of net debit or credit for passing on to banks participating in the system.
E. The system facilitates an efficient secure economical, reliable and expenditious system of funds transfer and clearing in the banking sector.
F. The transaction under this system may be made for amounts inclusive of paisa component when there is no upper value limit for putting through and individual NEFT transaction.