For expanding access to banking services, the RBI has advised banks to open branches with minimum infrastructure support of 8 to 10BC units at a reasonable 3-4km. Such branches are known as.....

BANKING GENERAL KNOWLEDGE

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

For expanding access to banking services, the RBI has advised banks to open branches with minimum infrastructure support of 8 to 10BC units at a reasonable 3-4km. Such branches are known as____

A	White Label ATMs
B	Ultra Small Branches
C	Banking Kiosks
D	CBS Terminals

Explanation:

Detailed explanation-1: -What are White Label ATMs (WLAs)? Ans. ATMs set up, owned and operated by non-banks are called WLAs. Non-bank ATM operators are authorised under the Payment & Settlement Systems Act, 2007 by the Reserve Bank of India (RBI).

Detailed explanation-2: -It was in the year 1969 that the Bank became a Scheduled Bank, as it was included in the Second Schedule of Reserve Bank of India Act. In 1972, it came out of its traditional bastion and opened its first branch in Chembur, Mumbai.

There is 1 question to complete.