BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

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

Which of the following was set up as a exclusive data communication network for banks in terms of recommendations of committee on communication network of banks?

A	BANKNET
B	SWIFT
C	MICR
D	None of these

Explanation:

Detailed explanation-1: -5 The Committees on Communication Network for Banks and SWIFT Implementation, chaired by Shri T.N.A. Iyer, Executive Director, Reserve Bank of India recommended the setting up of BANKNET and also suggested that banks in India should join the SWIFT Network.

Detailed explanation-2: -An interbank network, also known as an ATM consortium or ATM network, is a computer network that enables ATM cards issued by a financial institution that is a member of the network to be used to perform ATM transactions through ATMs that belong to another member of the network.

Detailed explanation-3: -RBINet is a communica-tion software, developed in ‘C’ and available for both DOS and UNIX machines. It allows free format messaging and file transfer on the existing BANKNET infrastructure with the help of UNIX servers installed at the 4 NCCs.

There is 1 question to complete.