As we all have noticed, banks these days are giving more emphasis on Branchless Banking. What does this really mean?begin{enumerate}item Banks will not have many branches as used to be in the good old days. Instead, the number of branches will be restricted and will conduct only a specified core business.item Banks will launch/operate many delivery channels like ATMs, Mobile Banking/Internet Banking etc, so that people are not required to visit a branch for their usual banking needs.item This means banks will issue only debit or credit cards for all types of day-to-day financial transactions. Cheques/cash payments will not be allowed.end{enumerate}Select the correct answer using the codes given below.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

As we all have noticed, banks these days are giving more emphasis on ‘Branchless Banking’. What does this really mean?

A	Only 1
B	Only 2
C	1 and 2
D	All of the above

Explanation:

Detailed explanation-1: -Branchless banking is the provision of financial services outside traditional bank branches, often via agents, and transmitting transaction data via information and communication technologies. These usually include card-reading POS terminals and cell phones.

Detailed explanation-2: -Moreover, branchless banking facilitates reaching out to new customers from various, sometimes hard-accessible locations. Thus, not only can a bank save money, but at the same time welcome more clients into the fold. Finally, as the world is moving forward – banks should too.

Detailed explanation-3: -Examples of the most common Branchless Banking services are mobile banking, internet banking, electronic money, mobile money, and more. Branchless Banking (BB) may also be the utilization of agents and information and communication technology for the provision of banking financial services.

Detailed explanation-4: -Mobile banking, Internet Banking, and Neobanking are the prime branchless banking types.

There is 1 question to complete.