Directions (Q. 1-5): Rearrange the following six sentences (A), (B), (C), (D), (E) and (F) in the proper sequence to form a meaningful paragraph and then answer the questions given below.
(A) The basic infrastructure at various branches/ offices, at present, however, is not capable of supporting such system, which is dependent upon sophisticated communication system
integrated with computers.
(B) Electronic fund transfer mechanism involving inter-bank funds settlement at the national level has come up only recently as an aftermath of the recommendations of the Saraf Committee on technology issues in the payment and settlement system constituted by the RBI in 1994.
(C) It had suggested that high-value institutional funds transfer should be batched every hour.
(D) The Saraf Committee had suggested a hybrid system, both paper and electronic media, for message transmission.
(E) Electronic fund transfer facilitates quick movement of funds through electronic media.
(F) Due to these factors, the EFT system introduced by the RBI is largely built around the existing infrastructure for cheque clearing.
