BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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As per the news published in various newspapers, the RBI has given its permission for cash withdrawal at “POS terminals". What is the full form of “POS"?
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Permitted on Sale
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Potential of Service
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Point of Sale
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Permission of Sale
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Explanation:
Detailed explanation-1: -You can withdraw your money at POS terminals using your debit card or an open system prepaid card. You can also use UPI to withdraw cash. You do not need to purchase anything from the merchant, or the merchant cannot force you to buy something from their establishment for you to avail of this facility.
Detailed explanation-2: -003/2009-10 dated July 22, 2009, DPSS.
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