BANKING AFFAIRS

Detailed explanation-1: -of India; Ms. Anjana Dube, Deputy Director General, Department of Financial Services, Ministry of Finance, Govt. of India, released the White Paper on 5G Applications for Banking and Financial Sector in India, at a function at the IDRBT today.

Detailed explanation-2: -5G with its increased bandwidth and very low latency could enable the use of Augmented Reality (AR) and Virtual Reality (VR) in banking sector. 5G holds the key to immersive and engaging customer experience across channels.

Detailed explanation-3: -Castle Hills, Road No. 1, Masab Tank, Hyderabad, Telangana-500057, India.

Detailed explanation-4: -5G would help fintech firms penetrate these areas and transform digital banking by introducing a high-speed real-time user experience to mobile devices, enabling instant payments and other transactions.

Detailed explanation-5: -5G will further improve access, inclusion, and quality of service because it promises much higher bandwidth, lower latency, and better connectivity. Fintechs have led the way in speeding up finance. The technologies used include cloud computing, AI, ML, blockchain, and many others.