National Financial Switch has been setup to facilitate connectivity between the banks switches and their ATMs and interbank payment gateway for authentication and routing the payment details of various e-commerce transactions. Which organisation has set-up this switch?

BANKING GENERAL KNOWLEDGE

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

National Financial Switch’ has been setup to facilitate connectivity between the bank’s switches and their ATMs and interbank payment gateway for authentication and routing the payment details of various e-commerce transactions. Which organisation has set-up this switch?

A	IBRD
B	IDRBT
C	SBI
D	SIDBI

Explanation:

Detailed explanation-1: -It was designed, developed and deployed by the Institute for Development and Research in Banking Technology (IDRBT) in 2004, with the goal of inter-connecting the ATMs in the country and facilitating convenience banking. It is run by the National Payments Corporation of India (NPCI).

Detailed explanation-2: -Cooperative Banks get Core Banking access with the help of NABARD.

Detailed explanation-3: -5. Which one of the following set up core banking infrastructure for rural banks? National Bank for Agriculture and Rural Development has set up joint liability groups (JLG) of farmers to facilitate delivery of credit to farmers.

Detailed explanation-4: -A salary account can be used to pay bills for utilities such as electricity, water, and gas. The holder of a salary account may be eligible for various loan offers.

There is 1 question to complete.