Ramesh visits his bank to transfer ₹50000 electronically into his wife’s account. At the bank he fills up the RTGS form and presents it along with the necessary cash to the bank employee at the counter for immediate action. But to his surprise, the bank employee informs him that in case, he cannot avail RTGS facility. But there is an alternative electronic bank transfer method available to him. Bank official also enquired about the urgency of transferring money to his wife’s account and suggested some paper based transfer of fund to other account.
Why do you think the bank refused to transfer funds on behalf of Ramesh through RTGS facility?
a) Banking hours were closed
b) He was not eligible to avail the required facility
c) ₹50000 is less amount to transfer
d) Minimum balance to transfer is ₹ 100000
